GMACCM's Servicer Ratings Affirmed

Fitch Ratings has affirmed GMAC Commercial Mortgage's CMS2-plus U.S. master servicer rating and its CPS2-plus primary servicer rating despite its recent downgrading of GMAC.Fitch recently downgraded General Motors' and GMAC's corporate ratings from BBB-minus to BB-plus. In addition, it has been announced that the division that includes servicing, GMACCM Holdings, may be partially divested from GMAC. However, based on conversations with senior management, Fitch said it believes these factors should not affect GMACCM's day-to-day operations, including advancing obligations. "The servicing divisions have sufficient liquidity and access to capital to fund their operations and maintain the quality of service that supports the rating affirmation," the rating agency said. As of April 30, GMACCM was primary or master servicer on 304 commercial mortgage-backed securities transactions totaling $102 billion, Fitch reported.