AmeriCredit Corp. Ratings Placed on CreditWatch Negative Aug 03

  • ID: 1802552
  • August 2003
  • Standard & Poors
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NEW YORK (Standard & Poor's) Aug. 7, 2003--Standard & Poor's Ratings Services said today that it placed its 'B+' long-term counterparty credit rating of AmeriCredit Corp. on CreditWatch with negative implications. This action follows the company's announcement that it will delay the release of operating results for the quarter and fiscal year ended June 30, 2003. The delay was prompted by a review by the company and its independent auditors of the accounting treatment of certain interest rate swap agreements. "The company has indicated no anticipated changes in cash flow or total equity as a result of the review; however, income statements and the components of equity may require restatement," said credit analyst Lisa J. Archinow, CFA. The impact of...

Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: On CreditWatch:Negative

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
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General Motors Financial Co. Inc.

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