General Motors Co. was raised to investment grade for the first time in eight years and moved to continue paying back stakeholders from its 2009 bailout with plans to buy preferred shares held by a union health-care trust.
General Motors Co., after 14 profitable quarters, plans to buy almost half of the United Auto Workers retiree health care trust’s preferred shares as it continues to unwind financial ties from its 2009 bankruptcy.
Ford Motor Co. Chief Executive Officer Alan Mulally said he plans to stay with the automaker as it works to regain its investment-grade credit rating and restore the common stock dividend it suspended five years ago.
Moody’s Investors Service raised the credit ratings of Ford Motor Co. and General Motors Co. to the cusp of investment grade, citing new U.S. labor contracts that preserve the automakers’ cost positions.
Non-profit groups including the Sierra Club and The Wilderness Society are raising funds by promoting rooftop solar panels installed by Sungevity Inc., a marketing model that may become more common as U.S. residential installations accelerate.