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CEO: GM Aims for Investment-Grade Status This Year

DETROIT (AP) -- General Motors (NYSE: GM  ) CEO Dan Akerson said Wednesday he hopes the company regains investment-grade credit status this year.

He told reporters Wednesday that the company is working with credit rating agencies to raise its status from junk, where it's been since 2005.

Akerson says the company's recent $11 billion credit line received investment-grade rating, showing that banks are ahead of the ratings agencies.

Companies with investment-grade status get lower interest rates when they borrow money.

Akerson also said GM sales in North America should outpace the rest of the market this year. Last year, GM's U.S. sales rose only 3.7 percent, slower than the 13 percent industrywide increase.

Akerson also predicted small growth in U.S. market share in 2013, largely fueled by new products such as the Cadillac ATS small sports sedan.

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8/26/2016 3:43 PM
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