S&P cuts MMC, says firm's viability in question

Newswire

TOKYO, June 21 (Reuters) - Credit rating agency Standard & Poor's cut its rating on ailing auto maker Mitsubishi Motors Corp's bonds deeper into junk territory on Monday after the disclosure of more safety defects, saying the firm's existence was now in question. "Recent disclosures of additional safety defects -- which have led to further damage to MMC's already weak brand image and plummeting domestic sales -- call into question MMC's viability," Chizuko Satsukawa, a credit analyst ...

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