Standard&Poor's Ratings Services' ratings on Ally Financial Inc. (formerly GMAC Inc.) reflect our assessment of the company's strong core U.S. auto finance franchise, and its status as a bank holding company subject to capital standards and ongoing oversight. Counterbalancing these positive factors, in our view, are its monoline exposure to the U.S. auto finance sector and transitional considerations relating to the bankruptcy of its former subsidiary Residential Capital LLC (ResCap). The pending sale of its international business units, and the company's evolving capitalization and cost structure are sources of uncertainty in Ally's evolving credit profile. In recent years, Ally's credit profile has been weighed down by difficulties associated with its ownership of ResCap, the company's residential mortgage business,
