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.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2423563, ~/Articles/ArticleHandler.aspx, 10/24/2014 7:11:37 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement