Fitch raises GMAC rating to "BB-plus" on sale

Newswire

NEW YORK, Nov 30 (Reuters) - Fitch Ratings on Thursday raised its ratings on General Motors Acceptance Corp., the finance unit of General Motors Corp. , citing the completion of the sale of a controlling stake in the unit. GM sold the controlling interest in GMAC to an investment consortium led by Cerberus FIM Investors LLC. Fitch raised its ratings on GMAC by one notch to "BB-plus," one level below investment grade, from "BB." Fitch also raised its ratings on GMAC unit Residential ...

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