General Motors Financial Co. Inc. Mar 11
- ID: 1802534
- March 2011
- Standard & Poors
Strategically important to General Motors' business Long track record in subprime automobile lending Improving financial performance Evolving strategy due to General Motors ownership Reliance on asset-backed securities (ABS) markets for funding Encumbered balance sheet Standard & Poor's Ratings Services' ratings on General Motors Financial Co. Inc. (GM Financial) reflect the company's evolving strategy due to General Motors Co.'s (GM; BB-/Positive/--) ownership, reliance on ABS markets for funding, and encumbered balance sheet. Other considerations include GM Financial's long track record in subprime automobile lending and improving financial performance. We consider GM Financial to be a strategically important subsidiary of GM, which enhances the long-term counterparty credit rating by one notch to 'B+', above the 'B' stand-alone credit assessment (see Group Methodology,...
Companies mentioned in this report are:
- General Motors Financial Co. Inc.
- General Motors Co.
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Research Type: Full Analysis