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Bulletin: General Motors Financial's Plan To Buy International Auto Finance Businesses From Ally Has No Immediate Rating Impact

Published Nov 23, 2012

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Abstract:

NEW YORK (Standard&Poor's) Nov. 23, 2012--Standard&Poor's Ratings Services said today that the announcement by General Motors Co. (GM; BB+/Stable/--) that it will acquire Ally Financial Inc.?s (Ally; B+/Positive/C) auto finance businesses in Europe and Latin America and joint-venture stake in China has no immediate effect on the ratings on GM or its lending arm General Motors Financial Co. Inc. (GMF; BB/Stable/--). GM plans to meld Ally's operations with GMF. GM will inject $2 billion of equity into GMF using its substantial cash balances (which amounted to $31.6 billion as Sept 30, 2012). GM expects the closings of all businesses to occur by mid 2013. This transaction further moves GM toward the captive finance model that is

Report Type:

Bulletin

Issuer

General Motors Co.

GICS

Automobile Manufacturers (25102010)

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Bulletin: General Motors Financial's Plan To Buy International Auto Finance Businesses From Ally Has No Immediate Rating Impact" Nov 23, 2012. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-General-Motors-Financial-s-Plan-To-Buy-International-Auto-Finance-Businesses-From-Ally-Has-No-Immediate-Rating-Impact-1039119>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: General Motors Financial's Plan To Buy International Auto Finance Businesses From Ally Has No Immediate Rating Impact Nov 23, 2012. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-General-Motors-Financial-s-Plan-To-Buy-International-Auto-Finance-Businesses-From-Ally-Has-No-Immediate-Rating-Impact-1039119>

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