TEXT-S&P affirms General Motors' BBB rating

Newswire

(The following statement was released by the ratings agency) LONDON, June 20 - Standard & Poor's Ratings Services said today that it affirmed its 'BBB' corporate credit ratings on General Motors Corp. (GM) and General Motors Acceptance Corp. (GMAC). The rating affirmation follows GM's announcement of a planned debt issuance totaling aproximately $13 billion -- including about $10 billion by GM (some portion of which could be in the form of convertible debentures) and approximately $3 ...

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