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DBRS: General Motors Financial notes BBB
DBRS said it assigned a rating of BBB to the $500 million floating-rate senior notes due June 30, 2022, $1.25 billion 3.15% senior notes due June 30, 2022 and $500 million 4.35% senior notes due Jan. 17, 2027 issued by General Motors Financial Co., Inc. (GMF).
The trend is stable.
The $500 million 4.35% senior note issue reflects a further issuance of the Jan. 17, 2017 issuance of 4.35% senior notes due Jan. 17, 2027. Immediately after the new issue, this single series of notes will have an aggregate principal value of $1.25 billion.
DBRS said the rating reflects the ownership of the company and considers the increasing share of GMF earning assets that are General Motors (GM)-related. Moreover, the strong financial and operational interconnectedness between GMF and GM and the importance of GMF to GM as a provider of dealer and consumer automotive financing underpin the ratings.
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