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S&P Credit Research1112 word report
published Apr 27, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) April 27, 2009--Standard&Poor's Ratings Services said today that its ratings on General Motors Corp. and Chrysler LLC (both rated 'CC/Negative/--') are not immediately affected by the near-term actions each company is taking to prevent bankruptcy. GM announced today that it has made an exchange offer for up to $27 billion of outstanding public debt. And published reports state that Chrysler has reached agreements with its principal labor unions in the U.S. and Canada to reduce labor costs as part of a more aggressive viability plan, which, if acceptable to the U.S. Treasury Department, we expect to include substantial debt reduction and a wide-ranging relationship with Fiat SpA. In our opinion, GM's announcement today
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: General Motors Corp., Chrysler LLC Take Steps To Avert Bankruptcy; Ratings Unaffected Publication date: 27-Apr-2009 Primary Credit Analysts: Robert Schulz, CFA, New York (1) 212-438-7808; robert_schulz@standardandp...
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| Report Type: | Bulletin
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| Ticker: | GM
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| Issuer: | General Motors Corp.
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| GICS: | Automobile Manufacturers (25102010)
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Automotive, Capital Goods, Corporations, Global Issuers, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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