UPDATE 1-No change in GM rating on labor pact-Moody's, S&P

Newswire

(Recasts; adds Moody's comments, updates bond and share prices) NEW YORK, March 22 (Reuters) - Standard and Poor's and Moody's Investors Service on Wednesday said General Motors Corp.'s credit ratings will not be changed immediately as a result of a labor agreement. GM and its bankrupt former subsidiary, Delphi Corp. , will offer buyouts to more than 125,000 factory workers under an agreement reached with the United Auto Workers union. The deal reduces the risk of a strike by Delphi ...

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