GM, Ford Motor Debt Ratings Cut to Junk by Moody’s

General Motors Corp. and Ford Motor Co., the two biggest U.S. automakers, were lowered to junk by Moody’s Investors Service following two quarters of losses at both companies’ North American auto operations.

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GM and Ford’s market share slipped for much of this year as Asian automakers such as Toyota Motor Corp. attracted customers and the rising price of gasoline encouraged purchases of more fuel-efficient vehicles sold by foreign companies. The combined market share of U.S. brands made by GM and Ford fell to 43.3 percent in May, about the same share GM had itself in 1983.
Bloomberg