NEW YORK (Standard&Poor's) Nov. 1, 2007—Standard&Poor's Ratings Services said today that it removed its ratings on GMAC LLC from CreditWatch, where they were placed with negative implications on Oct. 17, 2007. At the same time, we affirmed our 'BB+/B' long-term counterparty credit rating on GMAC LLC. The outlook is negative. "The action reflects the diminished earnings prospects of GMAC LLC's 100%-owned affiliate, Residential Capital LLC (BB+/Negative/B), and follows the company's announcement (see separate release) of a third-quarter net loss of $2.3 billion. Residential Capital LLC's loss resulted in a $1.6 billion consolidated loss for GMAC LLC. Residential Capital LLC's loss was driven by credit- and market-related charges and write-downs," said Standard&Poor's credit analyst John
