Ally Financial Inc., Residential Capital Ratings Raised To 'B+' From 'B' May 11
Standard & Poors, May 2011
Abstract
Ally and subsidiary Residential Capital have improved their capital, credit quality, and liquidity in recent months. The companies also settled a material portion of potential mortgage repurchase obligations and have been profitable. We are raising our counterparty credit ratings on Ally and Residential Capital to 'B+' from 'B'. Ally and Residential Capital continue to face significant legal, regulatory, and funding risk, and their consolidated core earnings capacity remains weaker than peers. NEW YORK (Standard & Poor's) May 4, 2011--Standard & Poor's Ratings Services said today that it raised its long-term counterparty credit ratings on both Ally Financial Inc. (formerly GMAC Inc.) and subsidiary Residential Capital LLC (ResCap) to 'B+' from 'B'. The outlook on both ratings is stable. We also...
Companies mentioned in this report are: Ally Financial Inc.,General Motors Acceptance Corp. (U.K.) PLC,General Motors Acceptance Corp. Nederland N.V.,General Motors Acceptance Corp. of Canada Ltd.,GMAC International Finance B.V.,GMAC Australia LLC,General Motors Acceptance Corp. (N.Z.) Ltd.,GMAC Commercial Mortgage Funding Asia K.K.,Residential Capital LLC,Preferred Blocker Inc.
Action: Upgraded
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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Ally Financial Inc.,General Motors Acceptance Corp. (U.K.) PLC,General Motors Acceptance Corp. Nederland N.V.,General Motors Acceptance Corp. of Canada Ltd.,GMAC International Finance B.V.,GMAC Australia LLC,General Motors Acceptance Corp. (N.Z.) Ltd.,GMAC Commercial Mortgage Funding Asia K.K.,Residential Capital LLC,Preferred Blocker Inc.
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