NEW YORK (Standard&Poor's) Sept. 23, 2013--Standard&Poor's Ratings Services today assigned its 'BB+' issue-level rating to General Motor Co.'s (GM's) proposed issuance of five-, 10-, and 30-year senior unsecured notes. At the same time, we assigned our recovery rating of '4' to the notes, indicating our expectation that lenders would receive average (30%-50%) recovery in the event of a payment default. The company intends to use the proceeds for general corporate purposes, including to repurchase $3 billion of series A preferred stock. The assessment is at the lower end of the recovery range and, under our current assumptions, we could lower the issue-level and recovery ratings if the amount of unsecured debt issued approaches $5 billion or
