TEXT-Fitch on GM, PSA alliance

Newswire

(The following statement was released by the rating agency) Feb 29 - Today's announcement by General Motors Co. (GM) that it plans to enter into a long-term alliance with PSA Peugeot Citroen (PSA) has no effect on GM's ratings. As part of the alliance agreement, GM has agreed to make an equity investment in PSA that will give GM a 7% stake in the French automaker. Although specifics have not been reported, Fitch Ratings estimates that GM's investment will be in the $350 million-$400 million ...

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