S&P says may still cut GM's ratings after earnings

Newswire

NEW YORK, Oct 26 (Reuters) - Standard & Poor's on Thursday said it may still cut its ratings on General Motors Corp. after GM reported third-quarter earnings on Wednesday. S&P said GM's long-term "B" rating, or five levels below investment grade, will remain on negative watch "until we are able to ascertain the financial effect on GM of its exposure to bankrupt former unit Delphi Corp.," S&P said in a statement. The rating company also is waiting for the sale of a 51 percent ...

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