March 1, 2012 / 11:26 AM / 6 years ago

Peugeot debt rating cut after share issue, GM deal

PARIS, March 1 (Reuters) - PSA Peugeot Citroen’s debt was cut to junk status by credit ratings agency Moody’s on Thursday, with a “negative” outlook.

Moody’s Investors Service lowered Peugeot’s rating by one notch to Ba1, the highest so-called “speculative” grade, a day after the French automaker announced a 1 billion euro ($1.34 billion) share issue and an alliance with U.S. peer General Motors. ($1 = 0.7476 euros) (Reporting by Laurence Frost; Editing by Christian Plumb)

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