NEW YORK (Standard&Poor's) Nov. 5, 2012--Standard&Poor's Ratings Services said today it assigned its '1' recovery rating and 'BBB' issue rating to General Motors Co.'s (GM; BB+/Stable/--) $11 billion revolving credit facilities, each of which are $5.5 billion and which expire in 2015 and 2017. The '1' recovery rating indicates our expectation of very high recovery (90%-100%) in a default scenario. General Motors Holdings LLC, a subsidiary of General Motors Co., is issuing the debt. The new facility replaces GM's existing $5.0 billion credit facility maturing in 2015. The larger facility increases GM's already substantial liquidity. We view this positively in light of several calls on cash--including European restructuring, GM Financial's bid for financial services assets, and
