S&P upgrades General Motors, debt to BBB

S&P said it raised its corporate credit rating on General Motors Co. and subsidiary General Motors Financial Co. Inc. to BBB from BBB-.

The outlook is stable.

At the same time, the agency upgraded its issue-level ratings on General Motors’ and General Motors Financial’s debt to BBB from BBB-.

"We believe that GM has improved its competitive position in all of its regions over the past few years by improving the quality, fuel economy, safety, and technology across its product segments," S&P credit analyst Nishit Madlani said in a news release.

"In addition, we expect that the company is well positioned to continue to improve the profitability of its regional operations over the next two years."

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