FORT WORTH, Texas, Mar 26, 2010 (BUSINESS WIRE) -- AMERICREDIT CORP. (NYSE: ACF) announced today the pricing of a $200 million offering of automobile receivables-backed securities under the AmeriCredit Automobile Receivables Trust (AMCAR) platform, which primarily includes subprime automobile loan contracts. The underwriters on the transaction are Credit Suisse and RBS. Net proceeds from securitization transactions will be used to provide long-term financing of receivables.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2010-A, in three classes of Notes:

Note Class


Average Life


Interest Rate



0.16 years 100.00000 0.31327%



0.99 years 99.99847 1.46%



3.01 years 99.98805 3.51%

The weighted average coupon on the Notes to be paid by AmeriCredit is 3.1%.

The Note Classes are rated by Standard & Poor's Ratings Services and Moody's Investors Service Inc. The ratings by Note Class are:

Note Class

Standard & Poor's


A-1 A-1+ Prime-1
A-2 AAA Aa3
A-3 AAA Aa3

Assured Guaranty Corp. will provide bond insurance for this transaction. Initial credit enhancement will total 18.0% of the original receivable pool balance building to the total required enhancement level of 25.0% of the then outstanding receivable pool balance. The initial 18.0% enhancement will consist of 2.0% cash and 16.0% overcollateralization.

Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the underwriters. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described in this press release, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.

About AmeriCredit

AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers. AmeriCredit has approximately 800,000 customers and $9 billion in auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit

SOURCE: AmeriCredit Corp.

AmeriCredit Corp.
Caitlin DeYoung, 817-302-7394