Best borrowers 2007: Best ABS: GMAC

GMAC and its new owner, Cerberus Capital, have used the ABS markets with skill to mitigate the impact of its troubled parent.

Euromoney’s borrower awards 2007

Overall awards
Best sovereign/supranational/agency borrower Best bank borrower
Best insurance borrower Best ABS
Best CDO borrower Best covered bond issuer
Best corporate borrower Best high-yield/leveraged finance borrower
Latin America regional awards
Best sovereign borrower Best corporate borrower
Best financial borrower
Central & Eastern Europe regional awards
Best sovereign borrower Best corporate borrower
Best financial borrower
Asia regional awards
Best sovereign borrower Best corporate borrower
Best financial borrower
Middle East and northern Africa regional awards
Best borrower

GMAC’s Secured exposure to GM $bln

GMAC’s Unsecured exposure to GM $bln

* Represents $4bln undrawn GM credit line that expired on September 30, 2006

Source: GMAC

There are not many ABS borrowers in the market that have faced the problems that GMAC has encountered – only Ford (another stalwart of the US auto-backed ABS market) can claim that dubious honour.

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