UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of Earliest Event Reported: (09-26-2001)
GENERAL MOTORS ACCEPTANCE CORPORATION
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(Exact name of registrant specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
1-3754 38-0572512
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(Commission File No.) (I.R.S. Employer Identification No.)
200 Renaissance Center, Detroit, Michigan 48265-2000
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313-665-6266
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(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
STANDRAD & POOR'S - CREDIT RATING OUTLOOK
On September 18, 2001, Standard & Poor's issued the following news release
regarding General Motors Corporation's (GM) credit rating outlook. The release
is as follows:
Standard & Poor's on Tuesday, September 18, 2001 said the attacks on the
World Trade Center and the Pentagon "increase the likelihood" of downgrades for
GM (and its related affiliates).
The credit rating agency said U.S. consumer confidence had fallen, which
will further pinch declining auto sales.
"Industry demand is now expected to be exceptionally weak for the next two
quarters at least, and the likelihood of any improvement beyond that time is
highly uncertain," it said. "Moreover, there could well be a deterioration in
the U.S. producers' product mix."
S&P said GM already suffered from rising pricing pressures, market share
erosion and unprofitable non-U.S. operations.
Downgrades ordinarily raise borrowing costs. S&P rates GM's long- and
short-term debt "A" and "A-1", respectively its sixth highest among ten
investment grade ratings and second highest of the four investment grades
available. It said it expects to complete its reviews by the end of October.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf the
undersigned hereunto duly authorized.
GENERAL MOTORS ACCEPTANCE CORPORATION
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(Registrant)
Dated: October 3, 2001 By s/ GERALD E. GROSS
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(Gerald E. Gross, Controller)