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AmeriCredit's Counterparty Credit & Senior Debt Ratings Raised to 'BB-'; Outlook Still Stable Mar 00
Standard & Poors, March 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) March 21, 2000--Standard & Poor's today raised its counterparty credit and senior debt ratings on AmeriCredit Corp. to double-'B'-minus from single-'B'-plus. The outlook remains stable. The upgrade reflects AmeriCredit's more extensive operating history, which includes relatively stable performance during two sector crises. AmeriCredit, a specialty auto finance company, has yet to exhibit its ability to maintain satisfactory performance during an extended economic recession. However, during the 1995-1997 consumer credit crunch, when many competitors struggled with credit issues that in some instances led to bankruptcy, AmeriCredit's operating performance was impacted to a much smaller degree. Additionally, during late 1998 and into early 1999 when many securitizers were turned away by Wall Street investors, AmeriCredit's ability...
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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