GM Financial's second securitization from a new offering shelf includes fewer loans with very long terms, according to S&P Global Ratings.

GM Financial, d/b/a Americredit Financial Services, is marketing a total of $987.4 million of bonds across four classes of notes via GM Financial Consumer Automobile Receivables Trust (GMCAR) 2017-2. A $211.1 million money market tranche carries a preliminary A-1+ rating from S&P Global Ratings and A-1 from Moody's Investors Service; there are also three senior term tranches rated AAA: Class A-2 tranche of $349.7 million in fixed and floating rate notes; a fixed A-3 series totaling $323.36 million; and an A-4 fixed-rate rate of $80.73 million in notes.

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