| Title: | Summary: GMAC Australia LLC |
| Price: | $175.00 |
| Publication Date: | Apr 27, 2008 |
| Report Type: | Summary |
| Abstract: | The 'B/C' ratings on GMAC Australia LLC's various debt issues and programs reflect that of the company's guarantor GMAC LLC (GMAC: B/Negative/C). On April 24, 2008, Standard&Poor's Ratings Services lowered its ratings on GMAC LLC, parent company of Residential Capital LLC, to 'B' from 'B+'. The outlook remains negative. At the same time, we lowered the ratings on Residential Capital LLC to 'CCC+' from 'B' following the announcement that two independent board members have resigned. We also placed Residential Capital LLC's ratings on CreditWatch with negative implications. The rating action on GMAC LLC reflects our concerns regarding Residential Capital LLC's stressed condition, the likelihood that Residential Capital LLC will require additional support, and the concern that GMAC LLC |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: GMAC Australia LLC Publication date: ##-Apr-#### Primary Credit Analyst: May Zhong, Melbourne (##) #-####-####; may_zhong@standardandpoors.com Rationale The 'B/C' ratings on GMAC Australia LLC's... |
| Word Count: | 1038 |
| Ticker: | 50585Z |
| Issuer: | GMAC Australia LLC |
| GICS: | Consumer Finance (40202010) |
| Sector: | Global Issuers, Financial Institutions, Corporations |
| Country: | Australia |
| Region: | United States |
| Format: | 
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