CEO: GM aims for investment-grade status this year

DETROIT, MI, - JUNE 12: General Motors Chairman and Chief Executive Officer Dan Akerson speaks with the media before addressing the 2012 GM annual meeting of stockholders at GM headquarters on June 12, 2012 in Detroit, Michigan. At the meeting the stockholders will elect directors for the next year, ratify the selection of the company's registered public accounting firm for 2012 and approve an advisory resolution on executive compensation. (Photo by Bill Pugliano/Getty Images)
Bill Pugliano

DETROIT General Motors (GM) CEO Dan Akerson said Wednesday he hopes the company regains investment-grade credit status this year.

He told reporters Wednesday that the company is working with credit rating agencies to raise its status from junk, where it's been since 2005.

Akerson says the company's recent $11 billion credit line received investment grade rating, showing that banks are ahead of the ratings agencies.

Companies with investment-grade status get lower interest rates when they borrow money.

Akerson also said GM sales in North America should outpace the rest of the market this year. Last year, GM's U.S. sales rose only 3.7 percent, slower than the 13 percent industry-wide increase.

Akerson also predicted small growth in U.S. market share in 2013, largely fueled by new products such as the Cadillac ATS small sports sedan.