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Proceeds of automakers first 30-year sale since 1999 in part go to fund pension plan.
Economic slowdown, record borrowing erode credit quality.
Issue is largest dollar-denominated sale since 2009.
ECB study says rating agencies are 'conflicted' because of the business they get from banks.
Report calls for greater transparency on how credit raters determine grades.
Global bond markets decline so far in August is biggest monthly loss since 2010.