GM credit cut to junk by S&P - Democratic Underground

lovuian

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Tue Dec-13-05 03:19 AM
Original message

GM credit cut to junk by S&P

http://feeds.bignewsnetwork.com/?sid=1a7d14f0dea39b28

U.S. rating agency Standard & Poor's knocked down the credit rating Monday of General Motors Corp. to junk status.

The agency cut GM's $285 billion in debt to B from BB-, with a negative outlook, MarketWatch reported.
more...
Its not looking good for GM ...Bankruptcy is looming...

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fasttense

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Tue Dec-13-05 05:36 AM
Response to Original message

1. But the economy is great. Just ask brush. n/t

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JuniorPlankton

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Tue Dec-13-05 08:52 AM
Response to Original message

2. BB- was already junk status

Anything below BBB is considered junk.
Also, GM has been trading in the single B range for a while. The latest downgrade is nothing new, just recognizing reality.

Bankruptcy is pretty much a done deal within 12-18 months.

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hatrack

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Tue Dec-13-05 08:57 AM
Response to Original message

3. "GM credit cut to junkier still by S&P"?

Edited on Tue Dec-13-05 09:44 AM by hatrack

At least, that's one possible headline.

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truthisfreedom

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Tue Dec-13-05 09:07 AM
Response to Original message

4. i've been seeing their products as junk for years. their credit rating

finally matches their cars.

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Lost4words

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Tue Dec-13-05 09:43 AM
Response to Original message

5. GM credit now = product IMHO

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alcibiades_mystery

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Tue Dec-13-05 09:48 AM
Response to Original message

6. That's gonna trigger some bond events

Look out below...

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DU AdBot (1000+ posts)

Thu Apr 25th 2024, 04:52 AM
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