Fitch lowers AmeriCredit

Fitch Ratings said it downgraded the long-term issuer default rating of AmeriCredit Corp. to B+ from BB and senior debt to B+/RR4 from BB, and placed ratings on Rating Watch negative.

The downgrade reflects the announcement that Financial Security Assurance would no longer be providing insurance for structured products, according to the agency.

The watch reflects uncertainty relating to the company's near-term funding plan, Fitch said.

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