General Motors has once again achieved investment-grade status for its bonds. Fitch upped the company.
Bloomberg’s John Lear has the story: “Fitch’s new rating for GM and for GM Financial is BBB-, the lowest investment grade. The rating had been BB+, one step lower, since August 2012. The outlook is stable.”
Investment-grade status means that GM’s bonds can now be bought by institutional investors who are prohibited from including non-investment grade debt in portfolios.
GM stock closed up 1% on Thursday, at $US36.
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