DBRS Corrects GMAC LLC and General Motors Acceptance Corporation of Canada Report

Dominion Bond Rating Service (DBRS) has made a correction to the GMAC LLC (GMAC) report released earlier today. The report incorrectly stated that the Commercial Paper ratings for GMAC and its subsidiaries were rated R-2 (low). Due to the September 15, 2006, change in short-term rating scale, GMAC’s and its subsidiaries’ short-term ratings were changed to R-3.

These rating revisions are technical changes related to the redefinition of the rating categories and do not in any way reflect a change in DBRS’s opinion regarding the credit quality of these debts. This technical change is discussed in a press release issued on September 15, 2006. The current R-3 rating is the lowest investment-grade short-term rating under the new scale; the former R-2 (low) rating was the lowest investment-grade rating under the old scale.

To obtain a copy of the corrected report or the September 15, 2006, press release, please click on the link below or contact us at info@dbrs.com.