Fitch puts AmeriCredit on watch

Fitch Ratings said it placed AmeriCredit Corp.'s BB long-term issuer default and senior debt ratings on Rating Watch negative.

The revision of the positive outlook reflects deterioration in portfolio asset quality and profitability metrics and the uncertain capital markets environment, the agency said.

The watch reflects the uncertain capital markets environment and the company's reliance on asset-backed securitizations for funding, S&P said.

Fitch also said it believes the company's liquidity profile is sound relative to its current ratings.

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