S&P Downgrades Ratings for Mitsubishi Motors.
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Oct. 21--TOKYO--Standard & Poor's (S&P) said Tuesday it has lowered its corporate credit rating on Mitsubishi Motors Corp. to B plus-pi from BB minus-pi, reflecting the company's credit losses and deteriorating sales performance in North America.
The downgrade also takes into account the company's reduced financial flexibility, stemming from its weaker access to the asset-backed securities market and the challenges facing Chrysler Corp., the U.S. operation of DaimlerChrysler which is th
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