UPDATE 1-GMAC-RFC sets guidance on UK home loan bond-source

Newswire

(Adds details, background) By Bei Bei She LONDON, May 23 (Reuters) - GMAC-RFC set price guidance on a multi-currency British home loan backed bond worth 1.0 billion pounds ($1.84 billion), a source close to the deal said on Monday. This is the first bond sale by the mortgage unit of General Motors Acceptance Corp since Standard & Poor's cut the credit ratings of finance company GMAC and car making parent General Motors to sub-investment grade on May 5. With "junk" ratings, ...

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