GMAC has investors salivating at plans for $1bn global bond despite Moody's warning

08 May 2003

Yield-grabbing investors snapped up $1bn of General Motors Acceptance Corporation five year global bonds this week, despite a warning from Moody's just days before the issue that the auto finance credit could be downgraded. Moody's told investors last Friday that it would cut General Motors' A3 and GMAC's A2 ratings if there ...

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