...NEW YORK (S&P Global Ratings) May 26, 2016--S&P Global Ratings today assigned its '###-' issue-level ratings to Detroit-based automaker General Motors Co.'s (GM) $14.5 billion revolving credit facilities. The facilities will consist of a $4.0 billion three-year credit facility and a $10.5 billion five-year credit facility. These facilities will replace the company's existing $12.5 billion credit facilities. Following the creation of the new facilities, we believe that the company's automotive liquidity will remain strong and in line with most of its automotive peers. The company has allocated a higher amount to its five-year tranche (now represents about 72% of the total revolving facility), which is roughly similar to what its peer Ford Motor Co. completed with the last amendment to its revolving credit facility. We believe that GM will primarily use the new revolver to fund working capital, issue letters of credit, help manage intra-year seasonality in its cash flows, and potentially...
