Abstract: On Oct. 13, 2008, Standard&Poor's Ratings Services said that its ratings on U.S. automaker General Motors Corp. (GM), including the 'B-' long-term corporate credit rating, and ratings on GM's 49%-owned finance affiliate GMAC LLC, including the 'B-' long-term counterparty credit rating, remain on CreditWatch, where they were placed with negative implications on Oct. 9, 2008. Since the CreditWatch placement, various published reports have discussed talks being held about a merger or partnership between GM and Chrysler LLC (CCC+/Negative/--), a privately held U.S. automaker. Nissan Motor Co. Ltd. (BBB+/Stable/A-2) and Renault S.A. (BBB+/Negative/A-2)--foreign automakers with a successful existing alliance--have also been reported to be talking with Chrysler. The CreditWatch placement is not immediately affected by the possibility of a

Brief Excerpt: RESEARCH Ratings Definitions Research Update: General Motors And GMAC Ratings Remain On Watch Neg On Reports Of GM-Chrysler Alliance Talks Publication date: 13-Oct-2008 Primary Credit Analyst: Robert Schulz, CFA, New York (1) 212-438-7808;...

Report Type: Research Update
Ticker: GM
Issuer: General Motors Corp.
GICS: Automobile Manufacturers (25102010)
Sector: Asset-Backed Commercial Paper, Asset-Backed Securities, Automotive, Capital Goods, Collateralized Debt Obligations, Corporations, Financial Institutions, Global Issuers, Public Finance, Residential MBS, Structured Finance
Country: United States
Region: United States
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 S&P Credit Research
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.