Moody’s Investor Services, the same company that gave packages of sub-prime mortgages Triple-A ratings, says Chrysler is at greatest risk of filing for protection under bankruptcy laws.
The ratings agency says Chrysler will find it more challenging to prove its viability than will General Motors, which is also rated at high risk of bankruptcy. Both companies [...]
Automotive News just reported that Moody’s Investors Service has cut Fiat SpA’s long-term rating to Ba1, the first level of “junk” status, as a result of negative cash flow, debt, and a weak automotive market.
Moody’s put on a negative outlook, indicating that they could downgrade it again within two years. While Moody’s noted Fiat’s [...]
Moody’s Investors Service has downgraded the debt ratings of Chrysler and Chrysler Financial. Chrysler’s rating was dropped from Ca to Caa2 and Chrysler Financial’s went from B3 to Caa2.
The move means Moody’s believes there’s an increased likelihood of default by the two companies. In its report, the New York-based ratings agency said: ”The rating action reflects Moody’s view that [...]
Moody’s Investors Service today cut its ratings on Chrysler and General Motors. Each company is now rated Caa2, eight levels below investment grade. Moody’s outlook for GM continues to be negative and the ratings service said it may cut Chrysler’s grade again.
In a statement, Moody’s said that, even with the availability of federal loans, it [...]
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