TORONTO (Standard&Poor's) March 15, 2012--Standard&Poor's Ratings Services said today that the published outcomes for Ally Financial Inc. (B+/Stable/C) under the Federal Reserve's 2012 Comprehensive Capital Analysis and Review (published on March 13) do not affect the ratings on Ally or the ratings on Ally's subsidiary, Residential Capital LLC (ResCap; CC/Watch Neg/C). Under the stress test scenario, Ally's Tier 1 Common ratio declined to 2.5% from 8%, well below the 5% target level the Federal Reserve had set. Ally's projected stress scenario capital level reflects elevated losses on consumer loans (including mortgage and auto loans)--on top of a substantial loss related to its legacy mortgage business conducted through its ResCap subsidiary. Similar to the Federal Reserve stress
