General Motors Co.'s New $4.3 Billion Revolving Credit Facility Due April 2024 Rated 'BBB'

NEW YORK (S&P Global Ratings) April 8, 2021--S&P Global Ratings today assigned its 'BBB' issue-level rating to Detroit-based automaker General Motors Co.'s (GM) new unsecured revolving credit facility maturing April 2024, which will have available borrowing capacity of $4.3 billion. The company is planning to renew its $17.5 billion credit facility, which includes a $2 billion 364-day facility maturing April 2022, an $11.2 billion facility maturing in 2026 (including $1.4 billion maturing in 2023), and a $4.3 billion facility maturing in April 2024. We expect GM's automotive liquidity to remain strong and in line with the liquidity positions of most of its global automotive peers. We believe that the company will avoid borrowing from its main $17.5 billion revolving facility

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