AmeriCredit Announces 55th Asset-Backed Securitization for $1.2 Billion

Fort Worth, Texas—AmeriCredit Corp. recently announced the pricing of a $1.2 billion offering of automobile receivables-backed securities through lead managers Deutsche Bank Securities, Credit Suisse and UBS Investment Bank. Co-managers are JPMorgan and Lehman Brothers.

The securities will be issued via and owner trust, AmeriCredit Automobile Receivables Trust in 2006-B-G, in four classes of Notes. The Note Classes are rated by Standard & Poor’s, Moody’s Investors Service and Fitch Inc.

This transaction represents AmeriCredit’s first securitization in which Financial Guaranty Insurance Company is providing bond insurance. Initial credit enhancement will total 9.5 percent of the original receivable pool balance building to the total required enhancement level of 14 percent of the then outstanding receivable pool balance. The initial 9.5 percent enhancement will consist of two percent cash and 7.5 percent over-collateralization.

This transaction also represents AmeriCredit’s 55th securitization of automobile receivables in which a total of more than $45 billion of automobile receivables-backed securities has been issued.