GM <GM> STOCK BUYBACK WON'T AFFECT S/P RATINGS
Standard and Poor's Corp said that
General Motors Corp's planned five billion dlr stock repurchase
would not affect the carmaker's debt ratings.
    S and P said the parent company would generate sufficient
cash flow over the next several years to fund the stock buyback
program without weakening its financial position.
    S and P affirmed the AA ratings on the senior debt of GM, 
General Motors Acceptance Corp, GMAC Grantor Trust and various
overseas units.
    Also affirmed were GM's AA preferred stock, and GMAC's
AA-minus subordinated debt and A-1-plus commercial paper.
 Reuter
