UPDATE 2-Ford, GM ratings affirmed by Fitch


(Adds details, paragraphs 2-3, 15-16; adds byline) By Jonathan Stempel NEW YORK, Oct 31 (Reuters) - General Motors Corp.'s and Ford Motor Co.'s credit ratings were affirmed on Thursday by Fitch Ratings, after the world's No. 1 and No. 2 automakers were downgraded earlier in October by Standard & Poor's. Ford and GM are locked in intense price competition, highlighted by interest-free loans, but now face a slowdown in U.S. sales as the lure of incentives diminishes. The automakers ...

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