TEXT-S&P: GM's ratings not affected by $3.5 bln draw

Newswire

(The following statement was released by the rating agency) Sept 22 - Standard & Poor's Ratings Services said today that its ratings on General Motors Corp. (B-/Negative/--) are not immediately affected by the company's announcement late Friday that it will draw down the remaining $3.5 billion of its secured revolving credit facility. This action underscores the anxious state of the capital markets, and we remain concerned that the weak credit markets, if sustained, could delay or ...

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