S&P lifts GMAC, ResCap

Standard & Poor's said it raised the long-term counterparty credit rating on GMAC Inc. and Residential Capital LLC to B from CCC. The C short-term and the C preferred securities ratings were affirmed.

The outlook is stable.

The actions follow the U.S. Treasury's investment of an additional $3.8 billion in new securities of GMAC under the Supervisory Capital Assessment Program, along with other capital investment restructurings, according to the agency.

S&P said that it views the capital raising and restructuring activities as positive but that it continues to consider the company vulnerable to weak quarterly performance.

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