S&P warns that further downgrades could be in the future for GM

General Motors got a significant public relations boost with last week's news of expanded Delphi buyouts, but Standard & Poor's is saying that it will still keep the automaker "on review" for yet another ratings downgrade if problems persist. S&P originally gave the warning in March of this year.

The ratings agency specifically stated that some of their major concerns were the ongoing risk of a strike at Delphi, as well as GM's obligations to workers and retirees under current labor contracts. S&P currently places GM's long-term credit rating at "B", several levels below junk-bond status.

[Source: AP/Yahoo!]


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