NEW YORK (TheStreet) -- Shares of General Motors Co. (GM) are up 0.49% to $33.03 in pre-market trade as the automaker was returned to investment grade by Standard & Poor's Ratings Services, five years after emerging from a government-backed bankruptcy, Bloomberg reports.
S&P upgraded GM to BBB- from BB+, citing progress in Europe, healthy cash flow and limited reputational and market share damage as a result of the company's record recalls.
The ratings outlook is stable.
TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
- You can view the full analysis from the report here: GM Ratings Report