NEW YORK (Standard&Poor's) Nov. 17, 2010--Standard&Poor's Ratings Services today said that General Motors Co.'s nearing completion of an IPO of common stock is a positive for the company's future capital-raising prospects and for normalizing its ownership structure, but that this has no effect on the rating. On Oct. 7, we assigned our 'BB-' corporate credit rating with a stable outlook on GM. The rating was not dependent on completion of an IPO, nor did it reflect any expectation of extraordinary intervention from the current majority shareholder, the U.S. Treasury. GM reported that the Treasury would own 33.3% of the company if the common stock overallotment is exercised in full, down from 60.8% currently. The purpose of
