GM rating outlook now negative, was stable-Moody's

Newswire

NEW YORK, April 25 (Reuters) - Moody's Investors Service on Friday changed its outlook on General Motors Corp to negative from stable, citing concerns about finance unit GMAC's ability to help fund purchases of GM's vehicles. A negative outlook indicates GM's rating is more likely to be cut over the next 12 to 18 months. GM is rated "B3," six steps below investment grade. GMAC, which is 49 percent owned by GM, may be stretched to provide funds for consumers to buy GM vehicles as it ...

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