AUTOS

S&P; Raises Credit Ratings of Ford, Chrysler: Standard & Poor’s said the two auto makers are effectively preparing for more intense competition and costly regulations to come. The New York credit-rating agency said it expects Japanese car makers to become more competitive and the auto business in general to decline as much as 30% with the next recession. It also said new regulations, particularly emissions standards that might be put in place in several states, will be costly for the industry. Ford Motor’s main debt rating was raised to A+ from A, Chrysler’s from BBB+ to A-. S&P; affirmed its BBB+ rating of General Motors Corp.