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AmeriCredit Sr Unsecd Debt Rated `B+' by S&P Jan 97
Standard & Poors, Jan 1997
Abstract
NY -- Standard & Poor's CreditWire 1/21/97 -- Standard & Poor's today has assigned its single-`B'-plus rating to the $100 million senior unsecured note issue of Fort Worth, Texas-based AmeriCredit Corp. due to mature in 2004. A long-term counterparty rating of single-`B'-plus also has been assigned to the company. AmeriCredit's ratings consider the company's solid financial performance, growth history and potential of the company, limited track record, and monoline product line. AmeriCredit has reported returns commensurate with its product offering, namely purchase financing secured by primarily late model, low mileage, used automobiles to subprime borrowers. The company's low cost strategy, evident in its very efficient, highly automated operations, complements the subprime pricing afforded AmeriCredit. Following the newfound popularity of subprime...
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: New Rating
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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