NEW YORK (Standard&Poor's) Feb. 18, 2016--Standard&Poor's Ratings Services today assigned Detroit-based automaker General Motors Co.'s (GM) proposed issuance of approximately $1.0 billion notes due 2036 and approximately $1.0 billion notes due 2046 its 'BBB-' issue-level ratings. We expect the company to apply the proceeds toward a contribution to its hourly U.S. pension plan to improve its funded status by mid-2016. In our view, this transaction will have no meaningful impact on GM's credit metrics. We expect GM's strong liquidity and steady positive free cash flow prospects over the next two years to remain sufficient to absorb outflows related to the recently announced shareholder actions without impairing its credit quality at the current rating of 'BBB-'. The
