DaimlerChrysler bonds in demand, ratings slip

Newswire

NEW YORK, Oct 29 (Reuters) - Undeterred by a ratings-related shake-up in the auto sector last week, investors have shown an increasing appetite for this volatile group in search of extra yield. By early Wednesday afternoon, DaimlerChrysler AG's new $1.5 billion offering of 10-year global notes had received nearly $5 billion in orders, even though Standard & Poor's had cut the auto giant's long-term credit rating just last week. Early indications on Wednesday morning suggested that ...

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