Fitch Rates AmeriCredit Automobile Receivables Trust 2006-R-M 'AAA'

NEW YORK--May 18, 2006--Fitch assigns the following ratings to AmeriCredit Automobile Receivables Trust 2006-R-M asset-backed notes:

-- $448,000,000 5.37% class A-1 'AAA';

-- $552,000,000 5.42% class A-2 'AAA';

-- $200,000,000 5.53% class A-3 'AAA'.

The securities, which represent the second securitization of the year offered by AmeriCredit Financial Services, Inc. (ACF), are issued with a note guaranty insurance policy from MBIA Insurance Corporation (MBIA), whose insurer financial strength (IFS) is 'AAA'. The note policy ensures full and timely payment of interest and principal by the final scheduled distribution date. The ratings address the likelihood that noteholders will receive full payments of interest and principal in accordance with the terms of the transaction documents. The ratings are based on the terms of the financial guaranty insurance policy and insurer financial strength rating of MBIA, the transaction's sound legal and cash flow structures, and the strength of ACF as originator and servicer of the receivables.

The 2006-R-M transaction features a revolving period in which all principal collections and excess spread, as required, will be deposited into a revolving account to be used to purchase additional receivables. Interest on the notes is distributed monthly on the sixth day of each month, commencing June 6, 2006. Principal on the notes is sequential, beginning with the class A-1 notes, until paid in full. Principal distributions begin the earliest of June 6, 2007, following the termination of a twelve-month revolving period or the first distribution date following an early amortization event. Before drawing upon the insurance policy, losses will be covered by excess spread, overcollateralization (OC), and a reserve account.

Excess spread will be available to purchase additional receivables during the revolving period or to pay down the notes at a rate faster than the amortization of the receivable pool after the revolving period, thereby increasing OC to its targeted level. The initial enhancement is provided by OC of 7.50% of the initial pool balance growing to 13% of the then outstanding pool balance, and a fully funded, non-declining reserve account of 2% of the initial pool balance.

The receivables in the 2006-R-M trust are simple interest receivables made with respect to new (26.36%) and used (73.64%) automobiles and light-duty trucks and vans. The weighted average FICO is 585 and the weighted average APR is 17%. The pool is well diversified geographically, with the largest state concentrations in Texas (11.2%), Florida (10.4%), California (9.7%), Ohio (5%), Pennsylvania (4.8%), and New York (4.1%). Geographic diversification acts to insulate the transaction against regional economic downturns.

ACF is a wholly owned operating subsidiary of AmeriCredit Corp. (rated 'BB-' by Fitch). AmeriCredit Corp. is a consumer finance company specializing in purchasing, securitizing, and servicing automobile loans in the nonprime automobile finance industry. As of the nine months ended March 31, 2006, the company's managed automobile receivables totaled $11.1 billion.

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