S&P Upgrades General Motors And GM Financial To BBB-0
Yesterday General Motors reported that Standard & Poor’s Ratings Services (S&P) has upgraded the credit ratings of both GM and GM Financial to “investment grade” with a BBB- rating, which is one level higher than the BBB+ rating S&P assigned three years ago.
“Delivering segment-leading vehicles, improving the efficiency of our operations and building a fortress balance sheet made this upgrade possible,” said GM CEO Mary Barra. “While we are not yet satisfied, and know we have work to do, I am confident that our renewed focus on our customers will drive even stronger business results.”
GM will share more details about its near-term business targets and long-term strategic plan at its annual Global Business Conference for investors on October 1, 2014.
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