NEW YORK -- Despite the lack of any formal announcement regarding a sale of GMAC, Fitch Ratings believes that progress towards a partial sale remains ongoing. As such, both General Motors Acceptance Corp. GMAC and Residential Capital Corp. ResCap and related GMAC entities remain on Rating Watch Evolving by Fitch,...
NEW YORK -- Fitch Ratings has placed GMAC LLC and its related subsidiaries 'BB+' long-term Issuer Default Ratings on Rating Watch Negative. A complete list of affected ratings is detailed at the end of this release. This action reflects the ongoing pressures in the company's residential mortgage subsidiary, Residential Capital...
NEW YORK -- Fitch Ratings has upgraded GMAC LLC's GMAC Issuer Default Rating IDR to 'BB+' from 'BB' and Residential Capital LLC's ResCap IDR to 'BBB' from 'BBB-' following the closing of the sale of a controlling interest in GMAC to a consortium led by Cerberus FIM Investors, LLC. The...
NEW YORK -- Fitch Ratings has assigned a 'BBB' senior unsecured debt rating and 'F2' commercial paper rating to Residential Capital Corporation ResCap. In addition, Fitch has upgraded the long-term and short-term ratings of GMAC Bank and removed them from Rating Watch Evolving, where they were placed on May 24,...
NEW YORK -- Fitch Ratings has revised the Rating Watch Status of General Motors Acceptance Corporation GMAC, Residential Capital Corporation ResCap and related subsidiaries to Positive from Evolving, indicating that the ratings may be upgraded or maintained at current levels. The Rating Watch revision to Positive follows the announcement of...
By Jonathan Stempel NEW YORK (Reuters) - GMAC LLC, the auto finance and mortgage company, plans to eliminate about 5,000 jobs at its Residential Capital LLC unit and close all 200 GMAC Mortgage retail offices to combat weak housing and credit markets. The...
GM Provides Updated Preliminary 2005 Results, Delays Filing 10-K DETROIT, March 17 -- General Motors Corp. (NYSE: GM) today provided updated preliminary financial results for 2005 and said it will delay filing its annual report on Form ...
NEW YORK, July 29 /PRNewswire/ -- GMAC Financial Services has scheduled the release of its 2008 second quarter financial results for Thursday, July 31, 2008. The press release, including financial highlights, will be issued at 8:00 a.m. EDT via PR Newswire and on the GMAC Financial Services Media...
ST HELIER, Jersey, July 28 /PRNewswire/ -- CPA, a leading provider of outsourced legal support services and the world's top intellectual-property management specialist, is pleased to announce the appointment of Bill Fagan as Chief Financial Officer and Paul McGolpin as Commercial Director. Both Fagan and McGolpin will be members...
Companies Are Focusing on Standardizing Policies and Taking Extra Care to Select the Right Candidate, According to Survey by GMAC Global Relocation Services OAK BROOK, Ill. and LONDON, June 30 /PRNewswire/ -- When it comes to transferring employees around the globe, the majority of...
ST HELIER, Jersey, June 26 /PRNewswire/ -- CPA, a leading provider of outsourced legal support services and the world's top intellectual-property management specialist, is pleased to announce the appointment of Bill Fagan as Chief Financial Officer and Paul McGolpin as Commercial Director. Both Fagan and McGolpin...
MINNEAPOLIS, June 16 /PRNewswire/ -- Residential Capital, LLC ResCap, a wholly owned subsidiary of GMAC Financial Services, today announced that Thomas W. Neary has been named executive vice president and senior managing director of Capital Markets for the company. Neary will report directly to ResCap Non-Executive...
NEW YORK, June 13 /PRNewswire/ -- Residential Capital, LLC ResCap, a wholly owned subsidiary of GMAC Financial Services, today announced that Karin Hirtler-Garvey has been appointed to the board, effective immediately. She will serve as an independent director along with Edward Ted F. Smith III,...
June 17 Presentation Will Address Important Nuances of India's Society and Culture OAK BROOK, Ill., June 11 /PRNewswire/ -- GMAC Global Relocation Services (http://www.gmacglobalrelocation.com/) will offer a complimentary "Webinar" presentation exploring aspects of doing business and living in India. Titled "Traveling to and...
NEW YORK -- Fitch Ratings has downgraded Residential Capital LLC's ResCap long- and short-term Issuer Default Ratings IDRs to 'D' from 'C' following completion of the company's distressed debt exchange DDE. Fitch has also removed ResCap from Rating Watch Negative, where it was originally placed on May...
NEW YORK -- Fitch Ratings has downgraded Residential Capital LLC's ResCap residential mortgage servicer ratings as follows: --Primary servicer for prime product to 'RPS3' from 'RPS2+'; --Primary servicer for Alt-A product to 'RPS3' from 'RPS2+'; --Primary servicer for subprime product to 'RPS3-' from 'RPS2';...
NEW YORK -- Fitch Ratings has placed the residential servicer ratings for Residential Capital LLC's ResCap on Rating Watch Negative as follows: --Residential primary servicer for prime product 'RPS2+'; --Residential primary servicer for Alt-A product 'RPS2+'; --Residential primary servicer for subprime product 'RPS2'; ...
MINNEAPOLIS, May 18 /PRNewswire/ -- Residential Capital, LLC ("ResCap") today announced that, in connection with its pending private exchange offers and cash tender offers for any and all of the U.S. dollar equivalent $14.0 billion in aggregate principal amount of its outstanding notes, it has received requisite consents as...
NEW YORK -- Fitch Ratings has downgraded the long-term Issuer Default Rating IDR of GMAC LLC GMAC and related subsidiaries to 'BB-' from 'BB'. Fitch has also downgraded GMAC's unsecured long-term ratings to 'B+' from 'BB-', reflecting the potential for reduced recovery in a default scenario should the company encumber...
NEW YORK -- Fitch Ratings has downgraded Residential Capital LLC's ResCap Issuer Default Rating IDR to 'C' from 'BB-' following the company's announced debt exchange offer. ResCap remains on Rating Watch Negative pending execution of the debt exchange offer. Upon completion of the exchange, Fitch will downgrade ResCap's IDR to...
Choose up to 5" more legroom with Economy Plus. Starting at $14.
Innovative USB Sleep'n Charge. Stylish Fusion™ finish. Ultra-portable. It's clear why the Satellite® U405 is a smart choice for you and your small business. Only from the laptop expert, Toshiba.
