DBRS Rates General Motors Financial’s $2.3 bn Issuance of Senior Notes at BBB (low), Trend Stable

DBRS, Inc. (DBRS) has today assigned a rating of BBB (low) to the $1.5 billion 3.20% Senior Notes due July 2020 and the $800 million 4.30% Senior Notes due July 2025 (the Notes) issued by General Motors Financial Company, Inc. (GMF or the Company). The trend on all of the Notes is Stable. The Notes are expected to settle on July 13, 2015. The proceeds from the Notes will be used for general corporate purposes.

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.

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

The principal applicable methodology is the Global Methodology for Rating Finance Companies (October 2014). Other applicable methodologies include Rating Companies in the Automotive Manufacturing Industry (November 2014) and DBRS Criteria – Guarantees and Other Forms of Explicit Support (February 2015). These can be found at: http://www.dbrs.com/about/methodologies.

The primary sources of information used for this rating include company documents and SNL Financial. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

For additional information on this rating, please refer to the linking document under Related Research.