Fitch Ratings has raised the credit ratings of both GM and GM Financial to investment grade this week, making the company’s corporate credit ratings investment grade with all major rating agencies.
“Fitch’s news today confirms that we are delivering on our commitment to generate strong operating results and implement our customer-focused strategy,” GM CEO Mary Barra said. “But, as much as we like this recognition, we are focused on achieving even stronger performance and enhancing long-term shareholder value in the years to come.”
The new corporate ratings assigned by Fitch to GM and GM Financial are BBB- with a “stable” outlook. Each credit rating is one level higher than the previous GM and GM Financial ratings of BB+, which were assigned by Fitch in August 2012 and August 2013, respectively.