Fitch raises GM

Fitch Ratings said it upgraded the issuer default ratings of General Motors Co. and General Motors Holdings LLC to BB+ from BB and affirmed the ratings of General Motors Financial Co., Inc. at BB.

The outlook for all is stable.

In addition, Fitch said it has affirmed GM Holdings' secured revolving credit facility rating at BBB- and upgraded GM's series B preferred stock rating to BB- from B+.

The upgrade of GM's ratings reflects the automaker's continued positive free cash flow generating capability, very low leverage, strong liquidity position, reduced pension obligations and improved product portfolio, Fitch noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.