Moody's Cuts GM's Debt Rating

oody’s Investors Service downgraded the debt rating of General Motors Corp., the Wall Street Journal reported Wednesday.

The downgrade to Baa3 brings Moody’s rating in line with other major ratings services and leaves the nation’s largest automaker with a rating just one level above speculative grade, the Journal said.

GM sold almost 180,000 Class 1-7 trucks in February, according to data from Ward’s Communications.

GM said last month it was slashing its 2005 earnings guidance to $1 to $2 a share, from $4 to $5 a share, the Associated Press reported.

Its U.S. market share also fell to about 25% this quarter, the lowest level in decades, AP said.