GMAC Financial Services [private]
Bond Credit Ratings | H. Y. Bond Reports | Request Quotes | Bond List
Bond Blogs | Company News | IRA Retirement News | SEC Filings
Providing High Quality Fiduciary Services at Very Low Prices
High Yield Corporate Bond News:
GMAC High Yield Corporate Bond Information:
GMAC (or GMAC Financial Services), formerly known as General Motors Acceptance Corporation, is a United States bank that was previously the wholly owned financial services arm of General Motors. GMAC Financial Services provide a suite of financial programs including insurance and mortgage operations in approximately 40 countries around the world. In 2008, the firm provided financing to 75 percent of the 6,450 GM dealers. On 24 December 2008, the Federal Reserve accepted GMAC’s application to become a bank holding company in order to gain access to billions of dollars in government aid, a crucial attempt to ensure the survival of the company.
On December 29, 2008, the United States Department of the Treasury gave GMAC $5 billion from its $700 billion Troubled Asset Relief Program (TARP).
As of May 15th, 2009, GMAC’s banking unit officially changed its name to Ally Bank in order to “help shed the baggage that many Americans now associate with banks”.
On May 21, 2009, the the U.S. Treasury announced it would invest an additional $7.5 billion in GMAC LLC which gave the U.S. government the majority stake.
|[stock GJM]||GMAC LLC||NYQ|
|[stock GKM]||GMAC LLC 7.25% NOTES||NYQ|
|[stock GOM]||GMAC LLC 7.375% NOTE||NYQ|
|[stock GMA]||GMAC LLC PINES||NYQ|
High Yield (junk) Bond News Center
custom news feeds:
Credit Rating News for High Yield (junk) Bond
Yield Curve News for High Yield (junk) Bond
New Issues News for High Yield (junk) Bond
Mutual Funds News for High Yield (junk) Bond
custom blog feeds:
High Yield Blog News for High Yield (junk) Bond
The Daily Trading Report Blog News for High Yield (junk) Bond
Interest Rate Round Up Blog News for High Yield (junk) Bond
Current High Yield Bond Offerings
Our Corporate Bonds Latest Listings
|Headquarters|| Detroit, Michigan
|Key people||Al de Molina, CEO|
|Revenue||▼ US$ 21.187 Billion (2007)|
|Net income||▼ US$ 2.332 Billion (2007)|