May 15th, 2008, 11:10 PM
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#1 (permalink)
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| Anime Otaku
Join Date: Oct 2001 Location: Tampa, FL USA
Posts: 104,983
| Analyst: GM Needs $9B in New Financing
Lehman Brothers analyst Brian Johnson says General Motors will need to secure over $9 billion in financing within two years to refinance existing debt and offset ongoing losses. Quote:
"GM will need to refinance close to $8.7 billion of debt coming due between now and January 2010, as well as absorb additional cash burn of close to $11 billion," Johnson said in a note for clients.
He added: "We remain cautious until the impact of this more fully works its way into GM valuation."
Source: Yahoo! News (Reuters) |
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