S&P gives GM green bonds BBB

S&P said it gave General Motors Co.’s planned senior unsecured notes a BBB rating.

“We rate the company's senior unsecured debt at the same level as our long-term issuer credit rating, which reflects the low risk that the senior unsecured debtholders will be significantly disadvantaged relative to its other lenders,” S&P said in a press release.

GM plans to allocate the net proceeds for investments and expenditures related to the design, development, or manufacture of clean transportation technology, such as battery electric vehicles, fuel-cell technology and charging solutions.

The outlook is stable.

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