DBRS rates GM loan BBB

DBRS said it has confirmed General Motors Co.’s issuer rating at BBB (low) with a stable trend and has assigned a BBB (low) rating with a stable trend to the company’s new revolving credit facility.

Concurrently, DBRS has discontinued the issuer rating and secured credit facility rating of General Motors Holdings LLC.

The facility totals $12.5 billion, consisting of a three-year tranche in the amount of $5 billion and a five-year tranche in the amount of $7.5 billion, the agency said.

The facility also includes a sublimit in the amount of $4.0 billion for General Motors Financial Co., Inc. (BBB (low) with a stable trend).

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