[OPE-L] Moody’s downgrades GM credit rating

From: Alejandro Valle Baeza (valle@SERVIDOR.UNAM.MX)
Date: Tue Apr 05 2005 - 14:50:45 EDT

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Some weeks ago Jerry posted about possibility that GM bonds become junk bonds. Now, it is almost real:

Financial Times
Moody’s downgrades GM credit rating
By Jennifer Hughes in New York
Published: April 5 2005 19:34 | Last updated: April 5 2005 19:34

General Motors, the US carmaker, slid one notch closer to junk-rated status on Tuesday after Moody’s Investor Service downgraded the company’s credit rating.

Moody’s downgraded GM to Baa3, the lowest investment-grade rating. Any lower, and GM would be classed as speculative grade, or “junk,” forcing investors in investment-grade debt to sell their holdings.

Saludos

Alejandro Valle Baeza

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