Fitch Lowers GM’s Debt Rating One Level

General Motors Corp.’s debt rating was cut another level below investment grade by Fitch Ratings, which cited concern about whether the automaker had done enough to reduce its North American operating costs and end losses.

GM’s rating was reduced to B from B-plus, Fitch said. The rating, now five levels below investment grade, has a negative outlook, meaning Fitch may downgrade GM again.