Moody’s: GM on track to investment-grade rating

May 23, 2012
Moody’s: GM on track to investment-grade rating
By MELISSA BURDEN / The Detroit News
Moody’s Investors Service Tuesday reaffirmed General Motors Co.’s Ba1 rating and expects the automaker to reach investment-grade rating within 12 months.

“GM’s credit quality continues to improve and the company remains on track to regain an investment-grade credit rating over the course of the next 12 months,” Bruce Clark, Moody’s lead analyst for North America, said in a statement.

GM spokesman Jim Cain said the automaker is pleased with Moody’s recognizing its progress.

“All is happy if and when that would happen, but I don’t have a crystal ball on it,” GM North America President Mark Reuss said Tuesday of Moody’s predictions. “We’re just keeping our head down on it, we’re having a good month. We’re getting ready to launch an arsenal of products.”

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