NEW YORK (Standard&Poor's) Aug. 6, 2009--Standard&Poor's Ratings Services said today that its CCC/Developing/C ratings on both GMAC Inc. and Residential Capital LLC are not affected by yesterday's release of consolidated quarterly results. GMAC reported a consolidated pretax loss of $2.8 billion versus a consolidated pretax loss of $798 million last quarter. Results included sizeable one-time charges as GMAC and Residential Capital LLC continue to deal with legacy assets and reposition their operations. Included in the current quarterly loss was $1.2 billion associated with the tax impact of incorporation (GMAC was incorporated in June; it was previously an LLC). The quarterly loss was again driven by its mortgage business, which continues to report elevated provision levels and
