NEW YORK (Standard&Poor's) March 17, 2014--Standard&Poor's Ratings Services said today that General Motors Co.'s recall of about 1.6 million vehicles related to defective ignition switches does not immediately affect the ratings or outlook on the company, despite the potential for sizable financial costs and consequences for the company's reputation. The recall affects certain Chevrolet, Pontiac, and Saturn vehicles with model years ranging from 2003 to 2007 that have defective ignition switches. Direct financial costs could include the cost of repairs, fines issued from regulators or other government investigations, and civil litigation. While more difficult to quantify, we believe reputational effects on GM could reduce the company's market share or pricing power, even though the company no
