GM (GM) gets hit with an S&P downgrade on its senior unsecured debt, which is now rated as...

|By:, SA News Editor

GM (GM) gets hit with an S&P downgrade on its senior unsecured debt, which is now rated as C, or 11 grades below investment quality. There is a 'high' likelihood of a GM bankruptcy, says S&P, and creditors can expect 'negligible recovery.'