Fitch rates GM revolver BBB

Fitch Ratings said it assigned a rating of BBB to General Motors Co.'s new unsecured revolving credit facility due 2022.

General Motor's long-term issuer default rating is BBB and its outlook is stable.

The new facility has an initial borrowing capacity of $3 billion, which will decline to $2 billion in July 2020.

The ratings are supported by the company's strong market position in the regions where it competes, solid profitability and commitment to maintaining a relatively conservative balance sheet, Fitch said.

The agency said it expects the margin performance of General Motor's key North American operations to remain strong relative to its peers.

Its decision to exit underperforming markets outside the United States also has contributed to significantly stronger global profitability and lower capital spending, Fitch said.

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