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General Motors bond status gets boost

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals

DETROIT (WKZO) -- For the first time since 2005, General Motors’ bonds are no longer regarded as junk.

Moody’s Investor Services has raised the automakers corporate rating form Ba1 to Baa3, reflecting GM’s sustained profitability and healthy U.S. product lineup.  The announcement could lower its cost of issuing new debt and attract more interest from investors.

The bond status comes nearly four months after the automaker returned to Standard & Poor’s 500 index.

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