Market position in the mortgage sector Entrenched position in automotive finance as a provider of financing support to General Motors Corp.'s (GM) dealers and retail customers Promising growth prospects Moderate capital structure In automotive finance, heavy reliance on problem-plagued GM, with little presence as yet among non-GM brands Near-term challenges faced by Residential Cap LLC in offsetting weakness in the U.S. mortgage sector, particularly in the subprime arena Need for GM and Cerberus Capital Management L.P. (Cerberus) to demonstrate GMAC can prosper under the current ownership structure The ratings on GMAC LLC (GMAC) reflect the significant risks facing the company because of its close business ties to its 49%-owner, GM (B/Negative/B-3). The ratings also reflect the benefits afforded by the
