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Moody's rates AmeriCredit notes Ba3
Moody's Investors Service said it issued a rating of Ba3 to AmeriCredit Corp.'s $200 million issue of senior unsecured notes.
The outlook is stable.
The one notch difference between the Ba3-rated notes and the Ba2 corporate family rating reflects the dominant role of secured and securitized debt in AmeriCredit's funding structure, Moody's said.
On June 1, Moody's upgraded AmeriCredit's corporate family rating to Ba2 from Ba3, reflecting the issuer's sustained financial performance and disciplined growth strategy, the agency said.
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