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Moody's: GMAC review direction 'uncertain'
Moody's Investors Service announced a change in the review status of GMAC's long-term debt ratings to "direction uncertain" from "review for possible downgrade."
GMAC's long-term ratings had been placed under review on Oct. 10. Moody's is also placing GMAC's Not-Prime short-term rating on review for possible upgrade.
These rating actions are a consequence of GM's announcement that it will seek to sell a controlling stake in GMAC to a strategic partner. GM's Ba2 long-term ratings remain under review for possible downgrade, the agency said.
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