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Prospect News home > News index > List of issuers R > Headlines for Residential Capital LLC > News item
Published on 6/16/2008 in the Prospect News Bank Loan Daily and Prospect News High Yield Daily.

Moody's downgrades GMAC

Moody's Investors Service said it downgraded the senior long-term rating of GMAC LLC to B3 from B2.

The outlook is negative.

Moody's said the downgrade is based on GMAC's increased exposure to Residential Capital LLC and also reflects growing pressure on GMAC's auto finance asset quality and profitability.


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