Moody’s upgrades Ford, GM ratings
World BusinessOct 28, 2011
DETROIT (AP) ― Moody’s Investors Service raised the corporate debt ratings for General Motors Co. and Ford Motor Co. on Thursday, citing new labor agreements and improvements in their finances.The ratings were raised from “Ba2” to “Ba1,” which is one notch below investment grade. The upgrades will make it cheaper for the automakers to borrow money.Ford and GM’s debt fell below investment grade in 2005 when the companies were deeply indebted. GM later declared bankruptcy and took government loans