FI showroom red and grey logo
MenuMENU
SearchSEARCH

Fitch Downgrades AmeriCredit Ratings

Fitch Ratings assigns a revision rating and downgraded 14 classes from six AmeriCredit Automobile Receivables Trusts. The ratings remain on Rating Watch Negative.

by Staff
May 13, 2009
2 min to read


NEW YORK — Fitch Ratings assigns a revision rating and downgraded 14 classes from six AmeriCredit Automobile Receivables Trusts. The ratings remain on Rating Watch Negative.

These actions follows Fitch's downgrade to 'AA+' from 'AAA' of the Insurer Financial Strength rating of Financial Security Assurance Inc. (FSA), which provides full support to the transactions. (For more information, please refer to 'Fitch Downgrades FSA's IFS to 'AA+'', dated May 11, 2009 and available on the Fitch Ratings web site at www.fitchratings.com.)

Ad Loading...

Fitch reviewed each transaction's performance, credit enhancement, as well as the legal structure on a stand-alone basis without the consideration of FSA's support. With respect to the revision rating of 'AAA' assigned to AmeriCredit Automobile Receivables Trust 2004-D-F class A-4, it was determined that a higher rating can be assigned on a stand-alone basis. Other transactions were deemed not able to support the higher rating and continue to be rated based on the FSA support. The current loss multiple for each transaction was a key factor in determining if a higher rating was warranted.

The rating of the 2004-D-F transaction is being revised to 'AAA' as a result of the strength of the underlying collateral and better than expected loss and delinquency performance. The transaction is highly seasoned at 54 months outstanding with a pool factor of 7.32 percent and has accumulated net losses of 10.01 percent, slightly better than Fitch's original expectations. Under the current credit enhancement structure, the transaction is able to withstand stress scenarios consistent with the revised rating.

More Auto Finance

Photo of document next to calculator and inkpen
Auto FinanceJuly 20, 2026

Dealerships Are Paying the Price for Extended Car Loans

Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.

Read More →
silver car in background with hand in front holding out a set of keys, Trade-In Trouble, F&I and Showroom
Auto Financeby Lauren LawrenceJuly 20, 2026

Trade-Ins in Negative Equity Reach New Heights

As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.

Read More →
Two men in suit jackets shaking hands in front of a new-looking white vehicle
Auto Financeby Hannah MitchellJuly 15, 2026

Auto Credit Plentiful

June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.

Read More →
Ad Loading...
Woman's hands holding an wallet empty of cash
Auto Financeby Hannah MitchellJuly 1, 2026

Automotive Consumers Sink Further in Debt

Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.

Read More →
Three men smiling for headshots
Auto Financeby Lauren LawrenceJuly 1, 2026

Porsche Financial Services Shifts Structure

After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.

Read More →
$100 bill and magnifying glass on top of paper that says insurance policy terms and conditions.
F&Iby Lauren LawrenceJune 29, 2026

Tariffs Could Raise Insurance Premiums

As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.

Read More →
Ad Loading...
Red toy car sitting on top of coins.
Auto Financeby Lauren LawrenceJune 24, 2026

Smaller Loans, Longer Terms

The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.

Read More →
Photo of man holding a car key
Auto Financeby Hannah MitchellJune 17, 2026

New Cars a Tad More Affordable

May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.

Read More →
Photo of a white toy car next to piles of coins
Auto Financeby Hannah MitchellJune 8, 2026

First-Quarter Sees Long Auto Loan Growth

Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.

Read More →
Ad Loading...
Assurant, Mastering Credit Friction, Sales Series, Expert Trainer Josh Krach
Auto FinanceMay 29, 2026

Mastering Credit Friction

In this video, Josh Krach explains how to turn credit friction into an advantage.

Read More →