UPDATE 1-S&P raises GM credit rating by two notches


* GM corporate credit rating raised to BB+ * Also raises rating outlook to stable Sept 29 (Reuters) - Ratings agency Standard & Poor's raised its corporate credit rating on General Motors Co by two notches on Thursday, saying the automaker's new labor contract would allow for continued profitability and cash generation in North America. The ratings service revised up its credit rating on GM to BB+ from BB- and also raised its rating outlook to stable from positive. The upgrade ...

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