Municipal Bond Forum
On “GM Turnaround Hits High Gear”cont’d #2
Q
Why haven’t S&P and Moody’s seen fit to reevaluate their ratings on GM bonds and debt? I know the average investor feels that a traditional, old-time corporation such as GM will never file Chapter 11, but as you said, no risk, no reward. Thanks for your great commentaries.
A
James A. Klotz responds:
In my opinion the rating agencies have determined that they can’t be heroes but could be goats if something goes wrong. In the meantime, they are just making themselves irrelevant.
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