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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