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Presale: AmeriCredit Automobile Receivables Trust 2008-2 Nov 08 Product Image

Presale: AmeriCredit Automobile Receivables Trust 2008-2 Nov 08

  • Published: November 2008
  • Standard & Poors

Abstract
The preliminary ratings assigned to AmeriCredit Automobile Receivables Trust 2008-2's (AMCAR 2008-2) auto receivables-backed notes series 2008-2 reflect: The credit enhancement in the form of subordination, overcollateralization, a reserve account, and excess spread (see the Credit Enhancement Summary table above); The timely interest and principal payments made under the stressed cash flow modeling scenarios, which are consistent with the assigned preliminary rating categories; The collateral characteristics of the securitized pool of subprime automobile loans; and The transaction's legal structure. AMCAR 2008-2 represents AmeriCredit Financial Services Inc.'s (AmeriCredit) second subprime senior/subordinate transaction since 2006. The transaction is structured as a true sale of the receivables from AmeriCredit, the originator, to AFS SenSub Corp. (AFS) (see chart 1). AFS will then sell...

Companies mentioned in this report are: General Motors Financial Co. Inc.,AmeriCredit Automobile Receivables Trust 2008-2

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General Motors Financial Co. Inc.,AmeriCredit Automobile Receivables Trust 2008-2

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