Fitch Upgrades AmeriCredit Automobile Receivables Trust 2002-1
NEW YORK--Jan. 2, 20064, 2006--Fitch Ratings upgrades three classes of the AmeriCredit Automobile Receivables Trust 2002-1 as follows:-- Class B asset-backed notes to 'AAA' from 'AA+';
-- Class C asset-backed notes to 'AAA' from 'A+';
-- Class D asset-backed notes to 'A' from 'BBB'.
The rating upgrades are a result of increased available credit enhancement (CE) in excess of expected remaining losses. Under the CE structure, the bonds can now withstand stress scenarios consistent with the upgraded ratings and still make full payments of principal and interest in accordance with the transaction documents. As before, the ratings reflect the strength of AmeriCredit Financial Services, Inc.'s as originator and servicer of receivables and the legal structure of the transactions.
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