![]() dollar debt that GM has maturing in the first quarter of next year. That’s largely responsible for the $2.75 billion of U.S. Why it matters: The United Auto Workers (UAW) union has been threatening a strike as it begins contract negotiations with GM, Ford and Stellantis for deals that expire in mid-September. The company has more than $100 billion of debt, most of which is tied to its financing arm. The 2019 General Motors strike began September 15, 2019, with the walkout of 48,000 United Automobile Workers from some 50 plants in the United States. General Motors raised its earnings outlook Tuesday with one giant caveat forget the whole thing if its hourly workers go on strike. Back in June 2023, GM Authority reported that a number of UAW members at the Clarios battery plant in Ohio who produce 12-volt batteries for vehicles manufactured by Detroit-based automakers. GM may have trouble funding its obligations if the strike isn’t resolved before raters either cut the outlook or rating, Levington said. “It goes beyond the immediate financial impact.” “The longer this drags on, the more risk that the concessions would have to be larger on GM’s part,” said Olesya Zhovtanetska, senior director of public fixed income at Sun Life Investment Management. Workers also are fighting for better wages and benefits, which could affect GM’s cost structure going forward. While the United Auto Workers and General Motors are back at the bargaining table this week, the toll from the longest nationwide strike against GM in more. The Detroit-based automaker and the union remain deadlocked over job guarantees, according to a letter sent out Tuesday by UAW Vice President Terry Dittes. Moody’s, S&P and Fitch all have stable outlooks for the automaker’s rating. 1:24 A strike that could have halted production of some of General Motors' most profitable and important vehicles was narrowly averted Thursday. GM is rated BBB by S&P and Fitch Ratings, which is two levels above junk.
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