Reuters Summit-NYU's Altman sees 50-55 pct chance of GM default


(For other news from the Reuters Restructuring Summit, click on By Dena Aubin NEW YORK, Sept 26 (Reuters) - General Motors Corp , bruised by multi-billion dollar losses, has a 50 percent to 55 percent chance of defaulting on its debt over the next five years, default expert Edward Altman told the Reuters 2008 Restructuring Summit this week. A bankruptcy filing may be the best option for GM to protect its assets and further reduce ...

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