S&P puts GM Financial under review

Standard & Poor's said it placed its BB issuer credit ratings and BB- unsecured debt rating on General Motors Financial Co. Inc. (GMF) on CreditWatch with positive implications.

General Motors Co. (GM) announced on Sept. 4 that it put a support agreement in place for its wholly owned captive finance subsidiary GM Financial.

"We view the support agreement as a more concrete commitment of support from GM for GMF in both good times and stressful conditions," S&P credit analyst Kevin Cole said in a news release.

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