Fitch ups AmeriCredit

Fitch Ratings said it upgraded the senior unsecured debt rating of AmeriCredit Corp. to BB- from B. The outlook is stable.

Fitch's rating action reflects the recent improvement in operating performance and liquidity position. The pace and magnitude of the improvement, as well as the potential for such levels to be maintained in the future, have exceeded Fitch's expectations, the agency said.

The current rating reflects the expectation that the company will manage at the current capital and liquidity levels, Fitch noted. Ratings continue to incorporate limitations related to the company's lack of a diversified funding profile and reliance on the securitization market.

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