AmeriCredit to Issue Monthly Asset-Backed Securitization Data Earlier.Business Editors/Automotive Writers FORT WORTH, Texas--(BUSINESS WIRE)--July 7, 2003 To provide investors with important financial information even sooner, AmeriCredit Corp. (NYSE NYSE See: New York Stock Exchange :ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP). ACF - Advanced Communications Function ) will begin providing servicer certificates and summary statistical data for outstanding securitizations via its corporate web site two days earlier each month. Effective July 2003, the company will post its monthly securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. data for asset-backed investors and other interested parties at www.americredit.com on the 10th day of each month instead of the 12th day. The trustees for each outstanding securitization will also post servicer certificates at the same time. In the event that the 10th of the month falls on a weekend or holiday, the information will be provided on the first business day thereafter. AmeriCredit began posting the monthly securitization data on its web site in 1999 as part of its industry-leading disclosure program to keep investors informed about the company's performance. In addition to the asset-backed information, the investors' section of the web site also contains extensive shareholder information, detailed financial data and recent investor presentations. AmeriCredit Corp. is one of the largest independent middle-market auto finance companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Using its branch network and strategic alliances with auto groups and banks, the company purchases retail installment contracts installment contract n. an agreement in which payments of money, delivery of goods or performance of services are to be made in a series of payments, deliveries or performances, usually on specific dates or upon certain happenings. entered into by auto dealers with consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has more than one million customers and over $15 billion in managed auto receivables. The company was founded in 1992 and is headquartered in Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. . For more information, visit www.americredit.com. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion