S&P lifts rating on GM debt to investment grade from junk

• Five years after emerging from a government-backed bankruptcy, General Motors (NYSE:GM) is returned to investment grade by Standard & Poor's.
• GM is raised to BBB- from BB+ with a stable outlook, as S&P cites global operating performance that continues to support favorable automotive cash flow and profitability, and a belief that credit measures will remain strong over the next year or so, even after recall-related costs.
• Moody’s lifted GM to Baa3 from Ba1 a year ago.