What it means for the bid, in order for GM to accomplish its goals, is that KKR needs to find another bank.
More Quotes from Pete Hastings:
This is long-awaited good news for bond investors. The next question is whether the new unit will have an investment-grade rating.Pete Hastings
Most of their operating profit comes from the U.S.. Everyone's been hurt by rising oil and gas, especially smaller and mid-sized pickups.
Pete Hastings
GMAC bondholders would be delighted to see a transaction of some sort take place and ecstatic if it were investment grade.
Pete Hastings
Separation from GM is critical, if they're able to secure an investment-grade rating, that's great news for bond investors.
Pete Hastings
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