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General Motors credit ratings raised to 'BBB-' by Fitch

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June 18
7:09 PM 2015

General Motors Co (GM.N) said on Thursday that Fitch Ratings had raised the credit ratings of both GM and GM Financial to investment grade.

The new ratings are 'BBB negative' with a stable outlook, GM said.

Fitch, the last of the three major ratings agencies to bring GM's credit ratings to investment grade, cited a "fundamental improvement" in the company's core business over the past several years as one of the reasons for the upgrade.

The agency said it was confident GM had the financial flexibility to navigate issues related to its recall of vehicles last year, while maintaining an investment-grade credit profile.

GM recalled more than 2.5 million vehicles in 2014 after accidents that caused more than 40 deaths.

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