AmeriCredit Corp. Ratings Placed on CreditWatch Negative Aug 03
Standard & Poors, August 2003
Abstract
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
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.
General Motors Financial Co. Inc.
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