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S&P may raise GM Financial
Standard & Poor's said it placed its ratings on General Motors Financial Co. Inc., including the B+ counterparty credit rating, on CreditWatch with positive implications. The rating action follows S&P's upgrade of General Motors Co., GM Financial's ultimate parent company, to BB+.
S&P said it views GM Financial as a strategically important subsidiary of GM. As a result, S&P said, it applied one notch of support to GM Financial's 'b' stand-alone credit profile.
"In light of our upgrade of GM, we could raise our rating on GM Financial by one or more notches depending on our expectations of GM Financial's growing importance to GM or its improving stand-alone financial performance," said S&P credit analyst Rian Pressman in a news release.
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