Friday, January 06, 2006

S&P Moves Sprinzen Off Auto Makers

S&P has moved Scott Sprinzen off the auto makers, according to Reuters.

Both Ford and GM have been downgraded to non-investment grade ratings in the past year.

S&P says Sprinzen is moving to Financial Institutions and will cover the finance arms of the auto makers. GM is considering spinning off GMAC to help the finance arm's ratings.