DBRS Correction: DBRS Rates GMF $2.5 bn Issuance of Snr Nts due on Various Maturity Dates at BBB Pos

DBRS, Inc. (DBRS) corrected the inadvertent omission of EU Endorsement disclosures within the January 17, 2019 press release “DBRS Rates GM Financial $2.5 bn Issuance of Senior Notes due on Various Maturity Dates at BBB, Pos”. This omission has been corrected.

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

The applicable methodologies are Global Methodology for Rating Non-Bank Financial Institutions (November 2018), and Rating Companies in the Automotive Manufacturing and Supplier Industries (October 2018), which can be found on our website under Methodologies & Criteria.

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. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

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.

This rating is endorsed by DBRS Ratings Limited for use in the European Union. The following additional regulatory disclosures apply to endorsed ratings:

Each of the principal methodologies/principal asset class methodologies employed in the analysis addressed one or more particular risks or aspects of the rating and were factored into the rating decision. Specifically, the Global Methodology for Rating Non-Bank Financial Institutions was utilized to evaluate the standalone strength of the Company and the Support Assessment. Meanwhile, the Rating Companies in the Automotive Manufacturing and Supplier Industries Methodology was utilized to evaluate the rating for GM, which provides support for GMF.

The last rating action on this transaction took place on April 4, 2018.

This rating included participation by the rated entity. DBRS had access to accounts, management and other relevant internal documents for the rated entity.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are generally resolved within a 12-month period. DBRS’s outlooks and ratings are monitored.

For further information on DBRS historical default rates published by the European Securities and Markets Authority (“ESMA”) in a central repository, see: http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Lead Analyst: Mark Nolan, Vice President, Non-Bank Financials – Global FIG
Rating Committee Chair: Michael Driscoll, Head of North American FIG, Global FIG
Initial Rating Date: 15 May 2014

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

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