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DBRS ups General Motors
DBRS said it upgraded the issuer ratings of General Motors Co. and General Motors Holdings LLC to BB (high) from BB.
The company's secured credit facility was confirmed at BBB (low), reflecting the instrument rating ceiling as per the agency's methodology, DBRS said.
The trend is stable.
The upgrade reflects the company's continuously improving performance with General Motors becoming significantly profitable from 2010 through the first half of 2011, the agency said.
The company's progress in its core North American market has been impressive amid challenging industry conditions, DBRS added.
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