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AmeriCredit Corp. Outlook Revised to Positive; Ratings Affirmed Jun 04
Standard & Poors, June 2004
Abstract
NEW YORK (Standard & Poor's) June 7, 2004--Standard & Poor's Ratings Services said today that it revised its outlook on AmeriCredit Corp. to positive from stable and affirmed its ratings on the company, including its 'B' long-term counterparty credit rating. The outlook revision reflects the continued improvement in AmeriCredit's financial performance and asset quality measures, in addition to its strengthened liquidity and capital. AmeriCredit has been highly successful in restructuring the company in accordance with its turnaround plan announced in February 2003. Following a period of stress, the company has preserved and effectively restored its dealer franchise. Third-quarter fiscal 2004 results (for the quarter ended March 31, 2004) showed better earnings performance, the best delinquency rate since the mid-1990s, and...
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: Affirmed
Action: Outlook: Positive
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.
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