Fitch affirms AmeriCredit

Fitch Ratings said it affirmed the ratings of AmeriCredit Corp., including the long-term issuer default rating at B- and the senior debt at B/RR3.

The outlook is stable.

Fitch said the rating affirmation reflects the company's competitive position in the fragmented auto finance market, experienced management team, and consistent servicing and collections capabilities over varying economic cycles.

These attributes are offset by limited funding flexibility, negative asset quality trends, and reduced profitability given extended disruptions in the capital markets, which have yielded significantly higher funding costs for the company, the agency said.

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