TORONTO (Standard&Poor's) Aug. 2, 2012--Standard&Poor's Ratings Services today said its ratings on Ally Financial Inc. (Ally, formerly GMAC; B+/Positive/C) are not affected by the consolidated company's second-quarter (ended June 30) results, which were consistent with our expectations. The company's reported net loss of $898 million, compared to net income of $113 million in second-quarter 2011, included the effect of charges of $1.2 billion associated with the bankruptcy filing of Ally's subsidiary Residential Capital, LLC (ResCap) in May 2012. In connection with the bankruptcy filing, ResCap is now deconsolidated from Ally's financial statements. Ally's core pretax income (as defined by Ally, and excluding items related to ResCap) was $533 million, compared to $576 million in second-quarter 2011.
