DBRS Finalizes Provisional BBB (low) Rating on General Motors New Secured Credit Facility, Stable Trend

In the October 19, 2010, press release published on General Motors Company and General Motors Holdings LLC (GM Holdings), the Secured Credit Facility (the Facility) was incorrectly attributed to the parent, General Motors Company. GM Holdings is the issuer of the Facility, the provisional rating of which DBRS has today finalized at BBB (low), with a Stable trend. GM Holdings’ Facility is guaranteed by parent General Motors Company, as well as by other subsidiary guarantors.

The $5 billion Facility has a term of five years and is secured by a first-priority interest in substantially all the domestic assets of General Motors Company, as well as 65% stock in certain first-tier foreign subsidiaries.

See DBRS’s related press release dated October 19, 2010, for further details.

Note:
All figures are in U.S. dollars unless otherwise noted

The applicable methodologies are Rating Automotive and DBRS Rating Methodology for Leveraged Finance, which can be found on our website under Methodologies.