DBRS changes GM trend to positive

DBRS said it changed the trends on General Motors Co. and its revolver to positive from negative and confirmed both ratings at BBB.

Concurrently, DBRS said it revised the trends on the long-term issuer rating and the long-term senior debt rating of General Motors Financial Co., Inc. to positive from negative while confirming those ratings at BBB. Finally, DBRS said it changed the trend on the senior unsecured notes rating of General Motors Financial of Canada, Ltd. to positive from negative while confirming the rating at BBB.

“These rating actions reflect GM’s sound business risk assessment as a major global automotive original equipment manufacturer with a strong core franchise in full-size sport utility vehicles (SUVs) and pickup trucks. Additionally, the Company’s operating performance, both last year in response to the global progression of the coronavirus disease (Covid-19) and this year amid the global semiconductor shortage, is proving quite resilient, with GM’s financial risk assessment remaining strong in the context of the currently assigned ratings,” the agency said in a press release.

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