(IGM)[CORPORATES] [GM/CHRYSLER DOWNGRADED TO Ca] Late yesterday, Moody's downgraded [GM]'s debt ratings and corporate family ratings to Ca from...
[CORPORATES] [GM/CHRYSLER DOWNGRADED TO Ca] Late yesterday, Moody's downgraded [GM]'s debt ratings and corporate family ratings to Ca from Caa2 following GM's restructuring plan that could result in loss to current debt holders. [Chrysler] was downgraded to Ca from Caa2 following an assessment that Chrysler will have insufficient cash to fund its operations by the first quarter of 2009 in the absence of government. This morning there are news stories that automakers are considering a pre-arranged bankruptcy in order to get a government bailout.
(IGM)[AT&T CUTS COSTS] AT&T is reporting quarterly results. The stand-out headline...
[AT&T CUTS COSTS] AT&T is reporting quarterly results. The stand-out headline from the release is that AT&T will cut 12k jobs, 4% of its workforce, taking a charge of $600 mln. The firm also intends to cut capital spending next year vs this year.
[CORPORATES] [GM/CHRYSLER DOWNGRADED TO Ca] Late yesterday, Moody's downgraded [GM]'s debt ratings and corporate family ratings to Ca from Caa2 following GM's restructuring plan that could result in loss to current debt holders. [Chrysler] was downgraded to Ca from Caa2 following an assessment that Chrysler will have insufficient cash to fund its operations by the first quarter of 2009 in the absence of government. This morning there are news stories that automakers are considering a pre-arranged bankruptcy in order to get a government bailout.
(IGM)[AT&T CUTS COSTS] AT&T is reporting quarterly results. The stand-out headline...
[AT&T CUTS COSTS] AT&T is reporting quarterly results. The stand-out headline from the release is that AT&T will cut 12k jobs, 4% of its workforce, taking a charge of $600 mln. The firm also intends to cut capital spending next year vs this year.
