General Motors' ratings may still be cut - S&P

Newswire

NEW YORK, June 27 (Reuters) - Standard & Poor's on Tuesday said it may still cut General Motors Corp.'s debt ratings despite the number of employees participating in the automaker's buyout program. GM said on Monday that about 35,000 workers accepted buyout and early retirement offers. The automaker expects to reach its target of reducing 30,000 manufacturing jobs by Jan. 1, 2007, about two years ahead of the previously announced schedule. [For details, see ID:N26146866]. While the ...

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