AmeriCredit Corp. Upgraded; Outlook Revised To Stable Mar 05
- ID: 1802063
- March 2005
- Standard & Poors
NEW YORK (Standard & Poor's) March 22, 2005--Standard & Poor's Ratings Services said today that it raised its long-term counterparty credit rating on AmeriCredit Corp. to 'BB-' from 'B' and raised its unsecured debt rating to 'B+' from 'B'. The outlook was revised to stable from positive. "The upgrade recognizes the continued improvement in AmeriCredit's financial performance as shown by its good asset quality measures, improving liquidity position, strong balance sheet, and significant capital base," said Standard & Poor's credit analyst Lisa J. Archinow, CFA. The ratings incorporate the solid progress that the company has made in restructuring in accordance with its turnaround plan announced in February 2003. Since that time, AmeriCredit has effectively boosted loan originations to a more...
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: Outlook: Stable
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Research type: News
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