NEW YORK (TheStreet) -- GM (GM) shares closed trading up 0.22% to $36.19 on Monday after analysts at Fitch Ratings upgraded the company's rating to investment grade today, according to Bloomberg.
The company will now have a BBB- rating, the lowest investment grade Fitch gives out, after being upgraded by the firm for the first time since August 2012.
The firm believes that the company is improving its business and that GM will weather the storm from its ignition switch recall, according to Bloomberg.
Separately, today GM raised the official death toll from its ignition-switch recall to 117 from 114.
The families of the victims are being offered compensation of at least $1 million each for the faulty ignition-switch issue that caused the company to recall 2.6 million vehicles last year.
Insight from TheStreet's Research Team:
GM is a core holding of Jim Cramer's Actions Alert PLUS charitable trust. The stock was mentioned in the most recent weekly roundup of stocks from the portfolio, here is was Cramer and Jack Mohr had to say about the company.
We do not expect General Motors to agree to a merger with Fiat Chrysler (Fiat has reportedly been pursuing the automotive giant in recent weeks). In fact, we believe it makes more sense for Fiat to get its financial house in order before attempting another merger. Even more, a combination of Fiat and GM would present enormous challenges, chief of which would be how to reduce capacity in Italy and the U.S. where there would undoubtedly be tremendous resistance to any factory closures or headcount reduction. Economies of scale dry up fast when management is prohibited from rightsizing operations. Owing to the tremendous cost of overcoming the dealer and capacity challenges, we think economic profitability would be destroyed for several years to come.
-Jim Cramer and Jack Mohr, ' Weekly Roundup', 6/19/2015
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: