DBRS ups General Motors

DBRS said it has upgraded the issuer rating of General Motors Co. and General Motors Holdings LLC to BBB (low) from BB (high).

The ratings upgrade reflects the company's sound business profile as one of the world's largest automotive original equipment manufacturers, with impressive geographic diversification, the agency said.

Moreover, DBRS noted that GM's financial profile is robust, benefiting from a very strong balance sheet with very low gross debt levels and solid earnings performance over the past two and a half years.

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