Moody’s Downgrades GM’s Credit: Moody’s Investors Service...
From Times Staff and Wire Reports
Moody’s Downgrades GM’s Credit: Moody’s Investors Service Inc. lowered General Motor Corp.’s credit ratings, one day after the world’s largest auto maker reported a quarterly loss of $1.6 billion. The ratings agency also downgraded to level A from AA the auto maker’s wholly owned financial arm, General Motors Acceptance Corp., and its overseas operations, including subsidiaries in Australia, England and Canada. The company’s debt securities remained at an investment grade, meaning that they are not considered a severe credit risk.
