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Moody's affirms GMAC Mexicana
Moody's Investors Service said it affirmed the MX-4 short-term Mexican national scale debt rating assigned to GMAC Mexicana, SA Sofol's short-term certificados bursátiles.
The affirmation follows the upgrade on parent company GMAC, LLC's senior unsecured rating to Ca from C.
GMAC Mexicana's debt rating is based on an irrevocable and unconditional guarantee provided by GMAC LLC, which serves as credit substitution.
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