S&P pulls GM from watch

S&P said it affirmed General Motors Co.’s BBB ratings and removed them from CreditWatch with negative implications.

Despite a tough second quarter, light vehicle sales have been improving since April with sales down about 30% in May and 24% in June.

“Our rating action was not a result of today's resignation of CFO, Dhivya Suryadevara. We believe GM has sufficient managerial depth to address this departure,” S&P said in a press release.

The outlook is negative.

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