DETROIT, Sept. 23, 2013 /PRNewswire/ -- General Motors Co. (NYSE: GM) reported today 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."
General Motors Co. (NYSE: GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
SOURCE General Motors
Original headline: GM Upgraded to Investment Grade Rating by Moody's
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