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

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Research type: News
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General Motors Financial Co. Inc.

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