Canadian Capital Auto Receivables Asset Trust II



    
    4.558% Auto Loan Receivables-Backed Notes, Series 2007-1, Class A-2

    
    TORONTO, April 16 /CNW/ -- Canadian Capital Auto Receivables Asset Trust
II ("CCARAT II") announced that it has been unable to arrange for one or more
lenders to fund the repayment of the 4.558% Auto Loan Receivables-Backed
Notes, Series 2007-1, Class A-2 (the "Class A-2 Notes") on April 17, 2009 (the
"Targeted Final Payment Date") on terms permitted by the trust indenture.  As
a result, the Class A-2 Notes will not be repaid in full on the Targeted Final
Payment Date, but will instead be paid accrued and unpaid interest and a
partial payment of principal on the Targeted Final Payment Date and will
receive principal and interest payments on subsequent monthly distribution
dates in accordance with their terms and as described in the prospectus
relating to the Class A-2 Notes.  The inability of CCARAT II to repay the
Class A-2 Notes in full on the Targeted Final Payment Date does not constitute
an Event of Default and does not affect the timing of payments on any other
notes of CCARAT II.
    

    
    CCARAT II is a special purpose master trust, the business activities of
which are limited to the purchase, acquisition, administration and sale of
financial assets, including financial assets acquired from GMAC Canada and its
affiliates, and the borrowing of funds or the issuance of securities to
finance these purchases.
    

    

    
    Contact:
    Gina Proia
    917-369-2364
    gina.proia@gmacfs.com



    




For further information:

For further information: Gina Proia of GMAC Financial Services,
+1-917-369-2364,  gina.proia@gmacfs.com

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GMAC FINANCIAL SERVICES

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