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News // Autos

DaimlerChrysler Bonds To Fall

04 June 2003 , 11:37538
DaimlerChrysler?s bonds might fall after the automaker announced that its U.S. Chrysler unit will report a quarter loss of about $1 billion because incentives cut revenue, and withdrew a global note issue.

Standard & Poor was surprised by the huge quarter loss and put its outlook to negative, an indication that the company?s BBB+ rating could be decreased.

The yield on DaimlerChrysler's 10-year notes is expected to climb half a percentage point relative to Treasuries as investors demand a higher risk premium after the revise profit forecast.

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