DBRS Rates Ford Motor Credit $2.75 bln of Senior Notes with Various Maturity Dates at BBB, Stable

DBRS Limited (DBRS) assigned a rating of BBB to the $675 million 5.085% Fixed Rate Notes and the $325 million Floating Rate Notes, both due January 7, 2021, as well as the $1.4 billion 5.596% Fixed Rate Notes and the $350 million Floating Rate Notes, both due January 7, 2022, issued by Ford Motor Credit Company LLC (FMCC or the Company). The trend on the Notes is Stable.

The rating reflects the ownership of the Company and considers that the predominant share of FMCC’s business consists of financing Ford Motor Company (Ford or the Parent) vehicles and supporting Ford dealers.

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

The applicable methodology is Rating Companies in the Automotive Manufacturing and Supplier Industries (October 2018), which can be found on our website under Methodologies & Criteria.

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

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found on the issuer page at www.dbrs.com.

The primary sources of information used for this rating include Company documents and SNL Financial (and other sources such as bank regulators etc.). DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating was initiated at the request of the rated entity.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com.