NEW YORK (S&P Global Ratings) May 5, 2025--S&P Global Ratings today assigned its 'BBB' issue-level rating to General Motors Co. ?s proposed senior unsecured notes. These notes will rank equally with the company's other unsecured and unsubordinated debt. GM plans to allocate net proceeds for general corporate purposes, including to refinance a portion of the $1.25 billion outstanding of its 6.125% senior notes maturing on Oct. 1, 2025. In addition, the company will fund a portion of the $1.8 billion, five-year term loan it has agreed to make to Ultium Cells LLC, its joint venture with LG Energy Solution. It will facilitate full voluntary prepayment of loans Ultium received under the U.S. Department of Energy?s Advanced Technology Vehicles Manufacturing program.
