DBRS gives BBB to Stellantis notes

DBRS said it assigned provisional ratings of BBB with stable trends to Stellantis Finance US Inc.’s $1billion of 1.711% senior notes due Jan. 29, 2027, and $1 billion of 2.691% senior notes due Sept. 15, 2031

The notes are guaranteed by Stellantis Finance US’ ultimate parent, Stellantis NV.

The proceeds will be used for general corporate purposes, which may include repayment or refinancing of other indebtedness.

“DBRS Morningstar anticipates, however, that the proceeds of the notes will be substantially applied toward such refinancing, as substituting the notes for Stellantis’ other obligations will result in an associated reduction in interest expense,” the agency said in a press release.

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