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137. S&P upgrades GMAC, Residential Capital to 'CCC/C'
5:28 PM ET, Feb 04, 2009 - By Sue ChangSAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services said late Wednesday it raised the counterparty credit rating on GMAC LLC and its subsidiary Residential Capital LLC to CCC/C from selective default. The upgrade comes after GMAC received $5 billion in Troubled Asset Relief Program funds from the U.S. Treasury which helped to relieve the liquidity pressure it had been under.
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