Merrill sees asset sales, div cut if GM goes junk

Newswire

NEW YORK, March 24 (Reuters) - The huge debt of General Motors Corp. and its finance arm will likely slide to junk status this year, forcing asset sales and a cut in GM's dividends, Merrill Lynch said on Thursday. The downgrade of a combined $200 billion in unsecured debt to junk territory would be unprecedented in capital markets, and investors should "expect a bumpy ride," Merrill said in a report. "Our concern is that GM's (market) share losses could accelerate in an increasingly ...

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