Bond investors dump GM as downgrade fear rises

Newswire

By David Wigan LONDON, Jan 20 (Reuters) - Nervous bond market investors gathered in emergency meetings on Thursday after General Motors' debt crashed to record lows on the company's weak first quarter outlook which fuelled concern its ratings would be cut to "junk" status. GM is one of the world's biggest corporate borrowers, with over $120 billion of bond debt outstanding, and accounts for around 2.5 percent of the major European bond market indices. The company is currently rated one ...

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