GM Upgraded to Investment Grade Rating by Moody's
DETROIT--September 24, 2013: General Motors Co. reported yesterday that Moody’s Investors Service upgraded the company to investment grade rating, from Ba1 to Baa3, with a stable outlook.
According to Moody’s announcement, the upgrade reflects its view that GM’s competitive position and credit metrics will continue to improve based on the strength of the company’s new product introductions in the U.S., its solid position in the increasingly important Chinese auto market and its focus on maintaining a robust liquidity profile.
“Good things happen when you build great cars and trucks and deliver strong financial results,” said Dan Akerson, GM chairman and CEO. “Today’s news from Moody’s further underscores that this is exactly what we are doing today.”