CHICAGO, Sept. 6 (Xinhua) -- Standard and Poor's Ratings Services on Friday revised the outlook of General Motors Co. (GM) from stable to positive and that for Ford Motor Co. to investment grade as the U.S. auto giants have reported the biggest August profits since the start of the century.
"The outlook revision reflects the potential for an upgrade by the end of 2014," the Detroit News quoted a statement of the credit rating agency as saying.
Before then, Fitch Ratings has revised its outlook on GM to positive and said further improvements by the company could lead to an upgrade within the next 24 months.
The upgrading of GM's outlook indicates that the rating companies will probably boost the largest U.S. automaker to investment grade.
GM fell to junk status in 2005, which eventually lead to a government-backed bankruptcy reorganization in 2009. Ford fell to junk status in the same year as GM but avoided bankruptcy and restored in 2012 its investment grade with Fitch Ratings and Moody 's Investors Service.