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July 6, 2009

GMAC Expects Smooth Transition for New GM

The launch of a new and independent General Motors will not impact the automaker’s relationship with GMAC Financial Services, the bank holding company said after Sunday’s approved sale of GM’s assets to a U.S Treasury-sponsored entity.

July 2, 2009

July Offers Make New GM Vehicles More Affordable

General Motors simultaneously launched its “72-Hour Sale” last Wednesday, and announced that it has 74 different models that may qualify under the federal government’s “Cash for Clunkers” program.

June 16, 2009

GM and Swedish Automaker Reach Tentative Agreement on Saab

General Motors Corp. and Koenigsegg Group AB, a consortium led by Sweden-based automaker Koenigsegg Automotive AB, today confirmed a tentative agreement for the purchase of Saab Automobile AB that secures the brand's future.

June 9, 2009

GM Names Former AT&T CEO as New Chairman

Edward E. Whitacre, Jr., former chairman and CEO of AT&T Inc., will become chairman of the New GM when the company is launched later this summer, GM's interim Chairman Kent Kresa announced today. Kresa will continue to serve as interim chairman until the launch.

June 5, 2009

General Motors, Penske Reach Tentative Deal Over Saturn

General Motors Corp. and Penske Automotive Group confirmed last Friday a tentative deal for GM to sell its Saturn brand to the dealer group.

June 2, 2009

GM Bankruptcy Has Marginal Effect on GMAC U.S. Auto ABS, Says Fitch

General Motors Corp. (GM)’s filing for Chapter 11 bankruptcy protection is expected to have limited immediate ratings implications on outstanding auto related ABS transactions issued by GMAC, according to Fitch Ratings.

June 2, 2009

GM Honors Warranty Programs, Gets Access to $15 Billion Credit Facility

General Motors Corp. said Monday that it received U.S. bankruptcy court approval to continue honoring all vehicle warranty programs and dealer incentive plans, as well as access to approximately $15 billion of a credit facility provided by the U.S. Treasury, and the Canadian and Ontario governments.

June 1, 2009

GMAC to Continue Operations During GM’s Bankruptcy

On the heels of General Motor’s Chapter 11 bankruptcy filing on Monday, GMAC Financial Services issued a statement saying it is taking the appropriate steps to protect its interests during the troubled automaker’s restructuring.

June 1, 2009

DBRS Places GMAC Loans Under Review

As a result of General Motors LLC (GM) bankruptcy filing Monday with the U.S. Bankruptcy Court, DBRS has conducted an analysis of all DBRS-rated outstanding retail auto loan, lease and wholesale ABS transactions originated by GMAC LLC.

June 1, 2009

GMAC Responds to GM Bankruptcy Filing

GMAC Financial Services is a creditor of General Motors Corp. (GM) and as such is taking the appropriate steps to protect GMAC's interests during GM's restructuring.