GMAC plans 502.5 mln euro German RMBS - agencies

Newswire

LONDON, May 23 (Reuters) - GMAC-RFC Bank GmbH plans to sell a 502.5 million euros ($642.5 million) German residential mortgage backed security (RMBS), two rating agencies said. The issuer, a mortgage financing unit of Detroit car maker General Motors , plans to sell six classes of notes via the E-MAC DE 2006-1 B.V. vehicle, Standard & Poor's and Moody's Investors Service said late on Monday. The initial deal breakdown is below. The expected ratings are from Moody's Investors ...

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