S&P may downgrade Ford, GM, Chrysler on worsening market
By Wallace Witkowski
Last update: 1:39 p.m. EDT June 20, 2008
SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Friday it may downgrade the ratings of the Big Three automakers following a review of deteriorating U.S. industry conditions. S&P placed its corporate credit ratings of General Motors Corp. and Chrysler on CreditWatch with negative implications.
"We have renewed concerns about all three automakers' future cash outflows in light of the prospects for U.S. sales for the rest of 2008 and into 2009," said Robert Schulz, an S&P credit analyst, in a statement.
"In the Incarnation the whole human race recovers the dignity of the image of God. Thereafter, any attack, even on the least of men, is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all. Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind."
Dietrich Bonhoeffer
Advent
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