DBRS rates General Motors Financial notes BBB

DBRS said it assigned a rating of BBB to the $400 million floating-rate senior notes due May 2019, the $1.4 billion 2.4% senior notes due May 2019 and the $1.2 billion 3.7% senior notes due may 2023 issued by General Motors Financial Co., Inc. (GMF).

The trend on all of the notes is stable.

Proceeds will be included in the general funds of GMF and available for general corporate purposes.

DBRS said the rating reflects the ownership of the company and considers the increasing share of GMF earning assets that are General Motors (GM)-related. Moreover, the strong financial and operational interconnectedness between GMF and GM and the importance of GMF to GM as a provider of dealer and consumer automotive financing underpin the ratings.

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