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S&P Credit Research760 word report
published Feb 18, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Feb. 18, 2009—Standard&Poor's Ratings Services said today that its ratings on General Motors Corp. (CC/Negative/--) are not affected by details of the company's restructuring plan submitted yesterday to the U.S. Treasury. The plan included a request under GM's Feb. 17, 2009, baseline case for $9.1 billion in additional U.S. government funding beyond the $13.4 billion approved in December 2008. The plan also describes a range of strategic decisions and cost reductions, both domestically and in many of GM's foreign operations. We lowered our corporate credit rating on GM to 'CC' in December 2008, reflecting our expectation that GM would approach its unsecured lenders for a reduction in debt at a substantial discount to
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: General Motors Corp. Submits Cost-Cutting Plan To U.S. Treasury; Corporate Credit Rating Is Unchanged Publication date: 18-Feb-2009 Primary Credit Analysts: Robert Schulz, CFA, New York (1) 212-438-7808;...
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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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