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GMAC 1992-F CLASS A ASSET BACKED CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 GMAC 1992-F CLASS A ASSET BACKED CERTIFICATES RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 29 /PRNewswire/ -- GMAC 1992-F Grantor Trust, $1.5 billion Class A 4.50 percent Asset Backed Certificates are rated 'AAA' by Fitch. The high quality of the auto receivables and 9 percent subordination of the Class B certificates are the primary factors supporting the rating. GMAC's prudent underwriting standards and strong servicing capabilities also contribute to the overall credit quality of the pool. In addition, prioritization of cash receipts and the legal structure provide for timely payment of principal and interest to the certificateholders.
 The certificates are secured by loans to finance new and used automobiles and light trucks and have original terms of up to 60 months. Used automobiles comprise about 15 percent of the pool. Receivables with payments up to 29 days past due are also included in the pool. Because of GMAC's experience and strong origination policies, Fitch believes that additional risk associated with the used vehicles and past due loan payments will not expose the pool to significantly higher losses and delinquencies. The pool's geographical diversification includes locations in California, New York, Illinois, Florida, and Louisiana.
 Credit enhancement will be provided by the 9 percent subordinated class B certificates, monthly excess spread of about 400 basis points and a subordination spread account for liquidity. The spread account will initially be funded with a 15 basis point deposit by GMAC Auto Receivables Corp. Thereafter, deposits to the spread account will consist of excess spread and principal and interest otherwise distributable to Class B until a specified balance has been reached. After the specified balance is reached, excess spread will still be available for liquidity and current losses. The high level of excess spread and subordination is supportive of the rating.
 GMAC's origination standards are based on a distinct credit scoring model developed by GMAC. This model, which incorporates numerous factors, screens for credit-worthy borrowers. GMAC's 72 years of experience in auto financing provides a proven track record as a basis for evaluating potential losses on the pool.
 -0- 9/29/92
 /CONTACT: Suzanne Mistretta of Fitch, 212-908-0637/
 (GM) CO: General Motors Acceptance Corp.; General Motors Corp. ST: Michigan IN: AUT FIN SU: RTG


PS -- NY034 -- 4310 09/29/92 10:34 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
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