GM bondholders face growing bankruptcy risk, loss

Newswire

By Walden Siew NEW YORK, March 30 (Reuters) - Bondholders of the largest U.S. automakers face a deeper loss on General Motors Corp debt after the government on Monday balked at more bailout money for now and said bankruptcy may be GM's best option. GM bondholders had expected 30 cents to 33 cents on the dollar in the event of a default or bankruptcy, and expectations are now plummeting, according to bond investors and credit markets. "I have a feeling that offer is off the table and ...

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