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GM the Lindsay Lohan of the bond market: Gimme Credit
Posted on July 07, 2008
General Motors has become the Lindsay Lohan of the bond market, analyst Shelly Lombard writes in her latest note on the sector for corporate bond research firm Gimme Credit LLC. A former investment grade star that now seems to be unravelling right before our eyes. The stock just fell to a 50 year low on concerns that GM will end up in bankruptcy, the corporate equivalent of rehab, the analyst write in a research note, adding that Detroit-based GM is not facing an immediate liquidity crisis so doesn t need to raise capital immediately. It also has plenty of unpledged assets it can us...
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