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Asset Acceptance Capital Corp.
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Modest leverage Strong cash flow generation Currently favorable market conditions for purchasing distressed consumer receivables Significant regulatory risk, illustrated by the Federal Trade Commission's investigation into the company's collection practices Concentration in a competitive industry with low barriers to entry Exposure to high-risk distressed receivables Volatile earnings and a loss in 2009 Standard & Poor's Ratings Services' ratings on Asset Acceptance Capital Corp. (AACC) reflect the company's concentration in a competitive industry with low barriers to entry and significant regulatory risk, exposure to high-risk distressed receivables, and volatile earnings performance that resulted in losses in 2009 and 2010. AACC's low leverage, typically strong cash flow generation, and the currently favorable market conditions for purchasing distressed consumer receivables are positive rating...
Companies mentioned in this report are: Asset Acceptance Capital Corp.
Action: Review
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