Sunday, Sep 25, 2016
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Automotive

Moody s pushes GM deeper into junk status

NEW YORK Moody s Investors Service on cut its rating on General Motors Corp. deeper into junk territory yesterday, citing sliding market share and uncertainty about a turnaround at the world s largest automaker.

Ratings on GM s finance arm, General Motors Acceptance Corp., were not affected but remain under review, with the direction of the rating uncertain, Moody s said.

Risks of supply disruptions from possible job actions at supplier Delphi Corp. and a recently announced Securities and Exchange Commission investigation of GM s pension accounting create additional uncertainty, Moody s said.

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