Moody's lifts General Motors

Moody's Investors Service said it raised General Motors Co.'s corporate family rating and probability of default rating to Ba1 from Ba2 and its secured credit facility rating to Baa2 from Baa3. GM's speculative grade liquidity rating remains SGL-1.

The outlook is positive.

Moody's said GM's upgrade and positive outlook reflect the highly competitive North American business model the company will be able to maintain as a result of the new four-year UAW labor agreement. Its increasingly competitive North American product portfolio and its strong position in high-growth Asian markets, particularly China, also support GM's credit profile, according to the agency.

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