Fitch assigns General Motors Financial notes BB-

Fitch Ratings said it assigned a rating of BB- to General Motors Financial Co., Inc.'s $500 million unsecured debt issuance. The issuance has a maturity of June 2018 and a coupon of 6.75%.

The proceeds are expected to be used to retire the $70 million of outstanding senior notes maturing in 2015 with a coupon of 8½% and for general corporate purposes.

The company has a long-term issuer default rating of BB- and senior debt rating of BB-.

The outlook is stable.

General Motors Co. has a long-term issuer default rating of BB- and preferred stock rating of B-.

General Motors Holdings LLC has a long-term issuer default rating of BB- and a secured revolving credit facility of BB+.

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