General Motors Corporation

8 page (3333 word) report published Apr 05, 2006
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...On March ##, GM filed with the SEC au dited and restated financial statements for the years ended #### ####. It also filed financial statements for ####, reflecting several revisions to #### financial results which the company initially announced on January ##. This Special Comment summarizes and briefly comments on the restatements and revisions to GM s financial statements from #### through ####. We al so discuss on our viewpoints on the overall importance of these financial restatements from a credit analysis perspe ctive, and why we believe th at the potential for further accounting adjustments by GM remains high. This Special Comment discusses issues related to GM s financial reporting only. Se e our Press Releases dated March ## and April # for our rating actio ns related to GM and GMAC, in part reacting to GM s disclosures of its credit facilities and lease commitments in its March ## fili ngs, and its planned sale of a ##% interest in GMAC. ...

Report Type: Financial Reporting Assessment
Issuer: General Motors Corporation
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