Fitch rates General Motors Financial notes BB+

Fitch Ratings said it assigned a rating of BB+ to General Motors Financial International BV’s €500 million senior unsecured notes issuance under its €10 billion euro medium-term note program.

The notes will pay a coupon of 1 7/8% and are due in October 2019.

The notes are guaranteed by General Motors Financial Co., Inc. and by its principal operating subsidiary, AmeriCredit Financial Services, Inc.

The notes will rank pari passu with General Motors Financial’s other senior unsecured debt issuance.

General Motors Financial has a long-term issuer default rating of BB+ and BB+ rating on its senior unsecured debt.

The issuance does not result in a significant increase in leverage for the company and has no rating impact on its ratings or outlook, Fitch said.

The ratings reflect the company’s seasoned management team, improving funding profile, consistent operating performance, good asset quality and adequate capitalization and liquidity, the agency said.

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