TORONTO (Standard&Poor's) April 27, 2012--Standard&Poor's Ratings Services today said its ratings on Ally Financial Inc. (Ally, formerly GMAC; B+/Stable/C) are not affected by the consolidated company's first-quarter results, which were consistent with our expectations. Ally reported net income of $310 million, representing a significant increase (112% year over year) on both a sequential quarter and year-over-year basis (even adjusting for the nonrecurring mortgage settlement expense accrual included in fourth-quarter results). Ally's core pretax income--as Ally defines it--reached its highest level since fourth-quarter 2010, as strong earnings in the company's mortgage unit offset a year-over-year decline in automotive services. Ally's automotive business reported pre-tax earnings of $611 million, up from $592 million in the prior quarter, but
