Fitch affirms AmeriCredit

Fitch Ratings said it affirmed AmeriCredit Corp.'s BB issuer default and senior debt ratings and removed them from Rating Watch negative.

The outlook is negative.

The affirmation reflects the company's solid position in the auto finance market, portfolio diversification across the credit spectrum, experienced management team, consistent servicing and collections capabilities over economic cycles and adequate capitalization, Fitch said.

The outlook reflects the impact that rising unemployment and declining collateral values will have on portfolio credit quality, the uncertain capital markets environment's impact on funding costs and the expectation that the company's liquidity will decline, according to the agency.

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