Peugeot (PEUGY.PK) ADRs skid 5.1% after Moody's cuts its debt rating a notch to Ba1, the highest...

|By:, SA News Editor

Peugeot (PEUGY.PK) ADRs skid 5.1% after Moody's cuts its debt rating a notch to Ba1, the highest "speculative" grade, and says it faces a further downgrade this year. The agency echoes investor concern about Peugeot's alliance with GM, and warns it would hurt earnings in the short term but might not bring the expected savings later.