General Motors Corp.'s (GM)  bankruptcy filing will likely have  limited immediate ratings implications on outstanding auto related ABS deals issued by GMAC, Fitch Ratings said.

"The  largest  potential  impact  on transaction performance will likely result  from  meaningful  declines  in retail and wholesale values on GM manufactured vehicles," said Fitch Senior Director Ravi Gupta. "These declines may  arise  from  potential post-bankruptcy developments such as further declines  in  consumer demand for new and used GM manufactured vehicles, brand  reductions  or eliminations, and disorderly reductions in a large number  of  franchised  dealers  and their existing vehicle inventories, among other factors.’

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