TEXT-S&P raises GM's corporate credit rtg to 'BB+'

Newswire

(The following statement was released by the rating agency) -- General Motors Co.'s (GM) new four-year labor contract with the UAW has been ratified; we believe the contract will allow for continued profitability and cash generation in North America. GM has a two-year track record of profits and cash flow generation in its global automotive operations, supported by strong performance in North America. -- We believe that, as a gradual market recovery continues in ...

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