January U.S. Auto Sales Improve From 2011 Levels; Sales SAAR Above Standard & Poor?s Expectations Feb 12
- Language: English
- Published: February 2012
- Region: United States
NEW YORK (Standard & Poor's) June 17, 2011--Despite risks associated with the fragile U.S. economic recovery, the domestic auto industry continues to recover from its 2009 low point of sales, profits, and cash flow, which has lifted the credit quality of the three U.S. based automakers and their suppliers. General Motors Co. and Chrysler Group LLC, the two U.S automakers restructured in bankruptcy in 2009, have recently returned to the capital markets. Ford Motor Co. avoided bankruptcy (although it completed a distressed exchange in 2009), and we raised our rating on the company several times since the summer of 2009. These three U.S. automakers represent a significant portion of light vehicle sales in North America, with close to a combined...
Action: General Comment
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Research type: News
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