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AmeriCredit Corp. Jun 07
Standard & Poors, June 2007
Abstract
Strong market position in subprime automobile lending Recent acquisitions of near-prime and specialty prime lending platforms Granularity of receivables portfolio Concentration in subprime automobile lending Reliance on ABS markets for funding Encumbered balance sheet Standard & Poor's Ratings Services' rating on AmeriCredit Corp. reflects the company's concentration in subprime auto lending, reliance on the ABS markets for funding, and encumbered balance sheet. Offsetting factors include its strong market position in subprime automobile lending, recent acquisition of near-prime and specialty prime lending platforms, and the granularity of its receivables portfolio. AmeriCredit's concentration in subprime auto financing is a negative ratings factor, given that the credit quality of these loans is highly vulnerable to economic cycles. The company's recent acquisition of near-prime...
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: Review
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: Full Analysis
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