DBRS Rates Ally Financial’s Senior and Subordinated Note Issuance

DBRS, Inc. (DBRS) has today assigned a rating of BB (high) to the $600 million 4.25% Senior Notes due April 2021 issued by Ally Financial, Inc. (Ally or the Company). Also, DBRS has today assigned a rating of BB to the $300 million 5.75% Subordinated Notes due November 2025 issued by Ally. The trend on each note issuance is Positive. The proceeds from the notes will be included in the general funds of Ally and available for general corporate purposes, including the potential redemption of the Company’s Perpetual Preferred Stock, Series A.

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

The principal applicable methodology is the Global Methodology for Rating Finance Companies (October 2015). Other applicable methodologies include Global Methodology for Rating Banks and Banking Organisations (December 2015), DBRS Criteria: Support Assessment for Banks and Banking Organisations (March 2016), DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (February 2016) and DBRS Criteria – Guarantees and Other Forms of Support (February 2016). 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.