Best borrowers 2007: Best ABS: GMAC

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Best borrowers 2007: Best ABS: GMAC

GMAC and its new owner, Cerberus Capital, have used the ABS markets with skill to mitigate the impact of its troubled parent.


GMAC’s Secured exposure to GM $bln

GMAC’s Unsecured exposure to GM $bln

* Represents $4bln undrawn GM credit line that expired on September 30, 2006

Source: GMAC

There are not many ABS borrowers in the market that have faced the problems that GMAC has encountered – only Ford (another stalwart of the US auto-backed ABS market) can claim that dubious honour.


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