S&P may cut Peugeot credit rating to junk territory

Newswire

NEW YORK, June 25 (Reuters) - Standard & Poor's on Thursday said it may cut its ratings on Peugeot into junk territory, saying that weak auto demand is likely to worsen the French automaker's financial profile. S&P said it may cut Peugeot from BBB-minus, the lowest investment grade. Downgrades into junk territory can significantly increase a company's borrowing costs. "We perceive that Peugeot's financial profile relative to our current rating could deteriorate further in 2009, ...

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