As predicted, GMAC comes to the market with a $2.9B, FDIC-backed debt offering. The troubled...

|By:, SA News Editor

As predicted, GMAC comes to the market with a $2.9B, FDIC-backed debt offering. The troubled auto-lender - rumored to be in advanced talks for an unprecedented third government injection - is the only junk-rated company to have its rating (Ca) boosted to AAA through the FDIC's TGLP, which is scheduled to end Saturday. Bookrunners: RBS, Citigroup (C), Deutsche Bank (DB) and Morgan Stanley (MS).