S&P takes GM off negative watch, affirms ratings


NEW YORK, May 22 (Reuters) - Standard & Poor's affirmed General Motors Corp rating on Thursday, citing the company's adequate access to cash, the rating agency said. GM's "B" rating, five levels below investment grade, was affirmed and S&P removed them from watch with negative implications, S&P said. "The rating affirmation reflects our view that GM's liquidity is currently adequate, taking account of the company's negative cash use in North America and ongoing restructuring ...

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