Credit Acceptance extends revolving credit line by one year to 2022

By Marisa Wong

Morgantown, W.Va., June 26 – Credit Acceptance Corp. entered into a fifth amendment on Monday to its sixth amended and restated credit agreement with Comerica Bank as administrative agent to extend the maturity of its revolving secured line-of-credit facility to June 22, 2022 from June 22, 2021, according to an 8-K filing with the Securities and Exchange Commission.

As of the amendment date, the company had $23.8 million outstanding under the $340 million facility.

Southfield, Mich.-based Credit Acceptance provides consumer auto loans.

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