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GMAC 1993-B $1.3 BILLION CLASS A ASSET-BACKED CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Sept. 16 /PRNewswire/ -- GMAC 1993-B Grantor Trust, $1.3 billion 4.00 percent asset backed certificates, class A are rated "AAA" by Fitch. The "AAA" rating is based on the excellent quality of the underlying receivables, the level of subordination, abundant level of excess servicing and the servicing capabilities of General Motors Acceptance Corp.
 The certificates are secured by loans to finance new and used automobiles and light trucks originated on or after Jan. 1, 1988, having original terms of six to 60 months, with a final scheduled payment date no later than Sept. 15, 1998. The pool contains both scheduled interest and simple interest receivables. Used vehicles represent approximately 25 percent of the pool and receivables with payments past due of up to 29 days are also included. Loan seasoning is almost 10 months, and assuming no prepayments, the weighted average life of the pool is approximately 25 months. The weighted average APR of 10.87 percent will provide over 550 bps of excess cash to cover losses on a monthly basis. The pool is geographically well diversified, with concentrations of 15.1 percent in Texas, 9.4 percent in California, 6.8 percent in Florida, 6.5 percent in Michigan, and 4.5 percent in New York, respectively. No other state accounts for more than 4.0 percent of the pool. The pool diversification, seasoning, weighted average life and projected monthly excess cash substantially mitigates any additional risk by including delinquent accounts and used vehicles in the pool.
 Credit enhancement will be provided by a 7.50 percent subordinated class and a subordination spread account for liquidity. Given GMAC's outstanding loan performance for previous securitizations, which demonstrate cumulative net losses of approximately 0.50 percent per year, the amount of seasoning, and the very high level of excess spread, the subordination provides substantial loss protection for the "AAA" rating.
 -0- 9/16/93
 /CONTACT: Rita Duggan, 212-908-0628, or Suzanne Mistretta, 212-908-0637, both of Fitch/


CO: General Motors Acceptance Corp. ST: IN: SU: RTG

TW -- NY063 -- 2770 09/16/93 15:13 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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