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We're not leaving SA over junk status - GM

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Johannesburg – Vehicle manufacturer General Motors (GM) said on Friday that South Africa's recent sovereign downgrade to junk status has not influenced its decision to disinvest from the country. 

In a written response to Fin24, GM confirmed that its decision to withdraw operations from the country is part of the group’s strategy to cut its operations in international markets.

“It was not influenced by local economic or political considerations. General Motors would like to thank all levels of government for their continued support of our business in South Africa,” the group stated.

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