US Corp Bonds-Ratings action on autos buoys market

Newswire

By Dena Aubin NEW YORK, April 30 (Reuters) - U.S. corporate bond spreads tightened on Friday as investors shrugged off interest rate worries for a day and bought bonds of top automakers after their credit ratings were affirmed. Spreads, the extra yield corporate bonds pay over Treasuries, narrowed by about 0.12 to 0.15 percentage point on auto bonds after Moody's Investors Service affirmed its ratings on Ford Motor Co. General Motors Corp. and their finance arms late on Thursday. In ...

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