SAN FRANCISCO (AFX) -- Moody's Investors Service after Wednesday's closing bell lowered General Motors Corp.'s corporate family and senior unsecured ratings to B3 from B2, and took its speculative grade liquidity rating to SGL-3 from SGL-2. The outlook is negative. The agency said GMAC and ResCap are unaffected by the downgrade. Moody's said the actions come in response to GM's disclosure that restatements of its 2002, 2003 and 2004 financial statements could result in the acceleration of as much as $3 billion in various lease obligations and in the company potentially being unable to borrow under its $5.6 billion unused revolving credit facility. The negative outlook recognizes the significant near-term operating challenges that GM continues to face, Moody's said. This story was supplied by MarketWatch. For further information see www.marketwatch.com.