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S&P Credit Research438 word report
published Jul 10, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) July 10, 2009--Standard&Poor's Ratings Services today said it has withdrawn its issue-level and recovery ratings on General Motors Corp.'s pre-petition senior unsecured debt. The rating withdrawal follows the formation of a new entity, General Motors Co. (unrated), which was created today through a Section 363 sale as part of the old GM's bankruptcy process. The pre-petition senior secured debt of the old GM was previously repaid. The corporate credit rating on the old GM, which is being renamed Motors Liquidation Co., remains at 'D'. RATINGS LIST General Motors Corp. (Motors Liquidation Co.) Corporate Credit Rating D/--/-- Ratings Withdrawn To From Senior Unsecured NR D Recovery Rating NR 6
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| Brief Excerpt: | RESEARCH Ratings Definitions General Motors Corp.'s Pre-Petition Unsecured Debt Ratings Withdrawn On Formation Of New GM Entity Publication date: 10-Jul-2009 Primary Credit Analysts: Robert Schulz, CFA, New York (1) 212-438-7808;...
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| Report Type: | Ratings Action
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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: | 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.
Also from S&P Credit Research
- Motors Liquidation Co. (fka General Motors Corp.) Ratings Withdrawn $100.00
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