Moody’s rates GPAT notes B2

Moody’s Investors Service said it assigned a B2 global local-currency debt rating to GPAT Compania Financiera SA’s expected issuance of up to 250 million in Argentine real class A notes due in nine months and up to 250 million in Argentine real class B notes due in 18 months.

The agency also said it assigned an Aa2.ar national scale local-currency debt rating to the expected issuances.

The outlook is stable.

The ratings on the issues were derived from GPAT’s B2 global local-currency corporate family rating, which is mainly based on the entity’s key role as the financial agent for General Motors and its strong commercial and strategic importance to the corporation, as well as its profitability and funding structure, Moody’s said.

The ratings also consider the company’s monoline business orientation, the agency said.

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