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GM SERIES D PREFERENCE STOCK RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 GM SERIES D PREFERENCE STOCK RATED 'A' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 9 /PRNewswire/ -- General Motors Corp.'s new issue of $350 million series D preference stock is rated 'A' by Fitch. This issue will be sold pursuant to a shelf registration originally totaling $1.5 billion and under which $392.5 million remains available before this issue.
 GM is moving ahead with increased urgency to restore its underperforming businesses to profitability and to strengthen its overall competitiveness. Its most challenging task is the comprehensive realignment of its North American automotive business. The company also will take a $749.4 million after-tax restructuring charge to second quarter earnings to re-align Hughes Aircraft Co.'s defense and aerospace operations with market realities.
 Fitch believes that these efforts will strengthen GM's long-term creditworthiness. However, slower market growth in North America could delay the visibility of these benefits. It is also unclear whether North American profitability can ultimately be restored to former levels, given the keen competition in that marketplace.
 The credit trend is declining, reflecting Fitch's expectation of weak fundamental performance in 1992, albeit improved from 1991 levels.
 -0- 7/9/92
 /CONTACT: Mary Anne Sudol of Fitch, 212-908-0562/
 (GM) CO: General Motors Corp. ST: Michigan IN: AUT SU: RTG


SM -- NY081 -- 8035 07/09/92 17:14 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
Words:220
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