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Credit Acceptance Corporation Announces Waiver Extension

30 November 1999

Credit Acceptance Corporation Announces Waiver Extension

    SOUTHFIELD, Mich.--Nov. 30, 1999--Credit Acceptance Corporation announced today that the waivers of non-compliance with the fixed charge coverage ratio in the agreements relating to the Company's senior notes and bank debt have been extended through December 10, 1999 to allow completion of longer term amendments to these agreements.
    The waivers were previously effective through November 30, 1999.
    Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related products and services to automobile dealers selling vehicles to consumers with limited access to traditional sources of consumer credit.