S&P ups AmeriCredit debt to B+

Standard & Poor's said it raised its long-term counterparty credit rating on AmeriCredit Corp. to BB- from B and raised its unsecured debt rating to B+ from B. The outlook was revised to stable from positive.

S&P said the upgrade recognizes the continued improvement in AmeriCredit's financial performance as shown by its good asset quality measures, improving liquidity position, strong balance sheet and significant capital base.

The ratings incorporate the solid progress that the company has made in restructuring in accordance with its turnaround plan announced in February 2003, S&P said.

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