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AmeriCredit Corp. 'B' Rating Placed On CreditWatch Developing Jul 10
Standard & Poors, July 2010
Abstract
General Motors (GM) announced today that it is acquiring AmeriCredit, with the acquisition likely to close by the end of fourth-quarter 2010. We are placing our ratings on AmeriCredit, including the 'B' corporate credit rating, on CreditWatch with developing implications. We will resolve the CreditWatch listing once we clearly understand the implications of GM ownership for AmeriCredit. NEW YORK (Standard & Poor's) July 22, 2010--Standard & Poor's Ratings Services said today that it placed its ratings on AmeriCredit Corp., including its 'B' long-term counterparty credit rating, on CreditWatch with developing implications. 'This rating action follows today's announcement that General Motors was acquiring AmeriCredit in an all-cash acquisition valued at approximately $3.5 billion,' said Standard & Poor's credit analyst Rian M....
Companies mentioned in this report are: General Motors Financial Co. Inc.
Action: On CreditWatch:Developing
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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