Canadian Agency Upgrades GM’s Credit Rating

Toronto-based Dominion Bond Rating Service has raised its rating of General Motors Co. debt by one notch to investment grade.

The agency is the first to return GM to the investment-grade status it last held in 2005. U.S. credit services rate the company just below that level.

Dominion attributes the upgrade to GM's strong balance sheet, low debt and rebounding earnings. The agency says that losses at the company's European unit are being offset by its strong performance in markets such as China and North America.