NEW YORK (Standard&Poor's) April 7, 2008—Standard&Poor's Ratings Services said today that the ratings on GMAC LLC (GMAC) will not be affected by the company's announcement, filed in an 8-k, to buy back $1.2 billion face value ($607 million market value) of the debt of its mortgage subsidiary, Residential Capital LLC. The ratings on Residential Capital LLC will not be affected either. GMAC will contribute the notes to Residential Capital LLC, which will then cancel the debt. In exchange for the notes, GMAC will receive a newly established class of preferred membership interests in Residential Capital LLC, with a redemption value equal to the $607 million market value of the debt acquired. The transaction will reduce Residential
