|
|
 |
|
Viewing report
|
|
|
|
AmeriCredit Corp. Outlook Revised To Negative; Ratings Affirmed Jan 08
Standard & Poors, Jan 2008
Abstract
NEW YORK (Standard & Poor's) Jan. 23, 2008--Standard & Poor's Ratings Services today revised its outlook on AmeriCredit Corp. (AmeriCredit) to negative from stable. At the same time, Standard & Poor's affirmed its 'BB-' long-term counterparty credit rating on AmeriCredit. 'The negative outlook reflects AmeriCredit's diminished earnings prospects going forward in light of higher credit and funding costs and lower recovery rates,' said Standard & Poor's credit analyst Rian Pressman. 'In response to these trends, management intends to slow originations (which will also contribute to lower earnings) by tightening credit, reducing the number of dealers it does business with, and reducing its sales force.' The impact of rising unemployment and financial distress, especially in certain regions within AmeriCredit's footprint, contributed...
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: Outlook: 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.
|
|
|
|
