GMAC CFO sees timelag for cheaper funding boost

Newswire

By Quentin Webb AMSTERDAM, April 26 (Reuters) - It will take time for cheaper funding, driven by better credit ratings, to boost the profits of General Motors Acceptance Corp. and high interest rates may hinder its performance, its chief financial officer said on Wednesday. General Motors , the world's biggest car maker, agreed earlier this month to sell 51 percent of GMAC to a consortium led by hedge fund Cerberus Capital Management, hoping to return the unit to investment-grade. ...

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