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Prospect News home > News index > List of issuers G > Headlines for GMAC LLC > News item
Published on 3/15/2007 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily and Prospect News High Yield Daily.

S&P affirms GMAC

Standard & Poor's said it affirmed its BB+/B-1 ratings on GMAC LLC.

The outlook remains developing.

At the same time, the agency said it affirmed its ratings on GMAC's 100%-owned subsidiary, Residential Capital LLC (BBB/A-3), whose outlook remains negative.

According to the agency, the affirmation of its ratings follows the announcement of extremely weak fourth-quarter earnings, excluding the effects of nonrecurring items.

The agency added that its ratings reflect the significant risks facing the company because of its close business ties to GM.


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