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.
"Why is my language not clear to you? Because you are unable to hear what I say. You belong to your father, the devil, and you want to carry out your father’s desires. He was a murderer from the beginning, not holding to the truth, for there is no truth in him. When he lies, he speaks his native language, for he is a liar and the father of lies."
John 8:43-44