GM, Ford credit protection costs rise after report

Newswire

NEW YORK, June 26 (Reuters) - General Motors Corp's credit protection costs rose on Thursday after Goldman Sachs downgraded GM's shares and Fitch cut the automaker's debt rating deeper into junk status. Ford Motor Co's credit protection costs also rose after Goldman cut its price target on Ford and Fitch said it was reviewing Ford's debt rating. Early on Thursday, it cost about $3.175 million in upfront payments, plus $500,000 in annual premiums to insure $10 million of GM's debt for ...

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