TEXT-S&P reports on Dutch E-MAC RMBS

Newswire

(The following statement was released by the ratings agency) LONDON, Oct 26 - The recent downgrade of General Motors Acceptance Corp. (GMAC) has caused a flurry of activity surrounding its four E-MAC securitizations. A rating trigger was hit requiring GMAC to provide certain notifications to the borrowers of the underlying loans that back the E-MAC transactions. This notification needs to done by Oct. 28, 2004 unless rating agency confirmation is obtained that the ratings on the E-MAC ...

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