NEW YORK (Standard&Poor's) Nov. 9, 2011--Standard&Poor's Ratings Services said today that it views General Motors Co.'s (GM; BB+/Stable/--) third-quarter 2011 earnings, announced today, as consistent with our rating and outlook on the company. We raised our rating on GM to BB+/Stable/-- in September. The automaker reported consolidated net income of $1.7 billion for the third quarter, down from $2 billion in third quarter 2010. Automotive free cash flow was a modest $300 million. The North American region accounted for nearly all adjusted EBIT in the quarter as GM Europe reported a loss, while GM International was modestly profitable and GM South America was effectively breakeven. In Europe, where the market remains weak, we assume there will
