TEXT-S&P: General Motors' announcement has no rtg effect

Newswire

Dec 19 - Standard & Poor's Ratings Services said today that the announcement by General Motors Co. (GM; BB+/Stable/--) that it will spend up to $5.5 billion to acquire 200 million of its common stock held by the U.S. Treasury (UST) has no impact on the ratings on GM. Under the agreement announced today, GM will use $5.5 billion, and the UST has committed to disposing of its remaining shares (representing about a 19% stake in GM) over the next 12 to ...

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