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New Corvettes Back on the Road Again

General Motors

The Corvette Assembly Plant in Bowling Green has begun shipping new Corvettes again.

Earlier this month, GM asked Chevrolet dealers to stop delivery of about 2,000 cars because they had to fix a part that attaches the air bag to the steering wheel.

GM also said another 800 Corvettes, mostly already at dealerships, were being held because they may have been built with only one of the rear parking brake cables fully engaged.

A spokesperson at the Assembly Plant now says both issues have been resolved.

Meanwhile, Standard & Poor's has returned General Motors to Investment Grade after rating it Junk for nearly a decade.

The firm upgraded GM's corporate credit rating Thursday one notch to "BBB-", its lowest investment grade, from "BB+".

Standard & Poor's rating Services lowered GM to junk status in 2005, four years before its bankruptcy. The automaker recovered and earned $4.7 billion last year.

S&P says it expects GM will sustain its improving profits in North America and achieve profitability in Europe soon. It also noted GM's strong sales in China.

It says GM's recall of more than 29 million vehicles this year is a negative but will be manageable given the automaker's strong liquidity. Shares in General Motors Co. rose 17 cents to $33.04 in after-hours trading.

The award-winning news team at WKU Public Radio consists of Dan Modlin, Kevin Willis, Lisa Autry, and Joe Corcoran.
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