Moody's cuts AmeriCredit view to negative

Moody's Investors Service said it affirmed AmeriCredit Corp.'s corporate family rating at Ba2 and senior unsecured debt at Ba3.

Its outlook was revised to negative from stable.

The change in outlook is in conjunction with news that AmeriCredit will post a net loss of $19 million for the second fiscal quarter ended Dec 31. The change reflects the challenging operating environment being faced by AmeriCredit, as well as other auto and consumer finance companies in the United States, Moody's said.

The negative outlook considers the effects of deteriorated credit performance in AmeriCredit's core sub-prime and near-prime receivables portfolios, the agency said.

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