Credit Ratings News

Auto workers make concessions to Detroit ThreeThursday, December 4, 2008 @ 12:54AMWorried about their jobs and warned that failure could lead to a depression, hundreds of leaders of the United Auto Workers voted overwhelmingly Wednesday to make concessions to the struggling Detroit Three, including all but ending a much-derided program that let laid-off workers collect up to 95 percent of their salaries.

Ford Said to Seek as Much as $6 Billion for Volvo (Update2)Thursday, December 4, 2008 @ 12:51AMDec. 4 (Bloomberg) -- Ford Motor Co. may seek to sell Volvo for as much as $6 billion, close to what it paid for the Swedish carmaker 10 years ago, and is using JPMorgan Chase & Co.

Tepid response to NBFC papersThursday, December 4, 2008 @ 12:49AMDipping interest rate, wary MFs hit finance companies’ fund mop-up plans. Life is getting tougher day by day for non-banking finance companies (NBFCs).

Rating downgrades on the riseThursday, December 4, 2008 @ 12:48AMLast 2 months have not seen even a single upgrade. Reflecting the downturn in the economy, there has been a sharp increase in credit rating downgrades in the last two months.

Asian Money Costs Rise; Central Banks Struggle to Revive CreditThursday, December 4, 2008 @ 12:46AMDec. 4 (Bloomberg) -- Japanese and Australian funding costs rose and South Korean banks paid a record amount to borrow U.S. dollars as concerns about meeting end-of-year cash needs overwhelmed central bank rate cuts and easier access to money.