J.P. Morgan Chase, AmeriCredit and Wells Fargo to Launch DealerTrack
Jan 29, 2001
On January 29, 2001, J.P. Morgan Chase & Company, AmeriCredit Corporation, and Wells Fargo announced the formation of DealerTrack, a system to connect auto dealers and lenders. Dealers will be able to submit credit applications to multiple financing institutions and access status ifnormation. ... Continue reading
Federal-Mogul Successfully Amends and Expands Bank Credit Agreement
Jan 3, 2001
Federal-Mogul announced the successful completion of its Fourth Amended and Restated Credit Agreement, which provides $350 million in additional financing to its pre-existing $1.7 billion senior credit facilities. ... Continue reading
Auto Financer Accused of Illegally Pulling the Wheels Out From Car Owners
Dec 29, 2000
A group of Wisconsin residents filed a proposed class action suit claiming that General Motors Acceptance Corp. (GMAC) knowingly and systematically violated Wisconsin law by repossessing cars without proper notice or court order. ... Continue reading
National Auto Credit Announces Financial Results for Fiscal 2001 Q3
Dec 18, 2000
National Auto Credit, Inc. announced financial results for its third fiscal quarter ended October 31, 2000, first nine months of its fiscal year 2001 ended October 31, 2000 and the adoption of a five-year business plan. ... Continue reading
S&P Asgns AAA Rtg to Hexagon Funding 2000's ABS
Nov 24, 2000
Standard & Poor's assigned its triple-'A' rating to Hexagon Funding 2000 Ltd.'s (Hexagon 2000) JPY22 billion fixed-rate notes. ... Continue reading
SuperSolutions Partners with Mitsubishi to Improve Credit Processing
Nov 9, 2000
SuperSolutions Corporation announced that Mitsubishi Motors Credit of America, Inc. has selected SuperSolutions' Daybreak Lending Software(TM) as its credit processing solution. ... Continue reading
Fitch Downgrades Tenneco Automotive Inc.'s Debt Ratings
Nov 8, 2000
Fitch lowers the ratings on Tenneco Automotive's (TEN) senior secured bank facilities to `BB-' from `BB'. ... Continue reading
National Auto Credit Announces Settlement of Frankino Litigation
Nov 7, 2000
National Auto Credit, Inc. announced that it has settled all outstanding litigation with Samuel J. Frankino and has agreed to repurchase all of the Company securities held by Mr. Frankino and certain of his related parties. ... Continue reading
S&P Assigns Rtgs to DaimlerChrysler Auto Trust 2000-D
Nov 7, 2000
Standard & Poor's assigned its ratings to DaimlerChrysler Auto Trust 2000-D's $1.5 billion asset-backed notes (see list). ... Continue reading
Car Finance Mark-Ups Hurt African Americans, Study Author Affirms
Oct 30, 2000
The author of the study finding that African-American car buyers paid millions of dollars more in car loans than similarly situated white buyers says the only factor that explains the difference is race. ... Continue reading
Auto Credit Acceptance, Ltd. Announces Successful Integration Test
Oct 13, 2000
Auto Credit Acceptance, Ltd. (ACA) announced the successful demonstration and integration test of their new "Multi-Lender Evaluation and Auto Loan System" (MLS). ... Continue reading
AmeriCredit Corp. Reports Record First Quarter Operating Results
Oct 12, 2000
AMERICREDIT CORP. announced record net income of $42,273,000, or $0.51 per share, for its first fiscal quarter ended September 30, 2000, versus earnings of $25,324,000, or $0.35 per share for the same period a year earlier. ... Continue reading
Ugly Duckling Selects Pueblo to Fulfill Hispanic Marketing Needs
Oct 5, 2000
While the Hispanic community has an annual buying power of more than $273 billion, many Hispanic consumers have established little or no credit history. ... Continue reading
Fitch Places Goodyear's Rating on Rating Watch Negative
Oct 2, 2000
Fitch has placed the `A-' senior unsecured debt rating of The Goodyear Tire & Rubber Company on Rating Watch Negative. The company's commercial paper rating is affirmed at `F2'. ... Continue reading
National Auto Credit Announces Financial Results for Second Quarter Fiscal 2001
Sep 14, 2000
National Auto Credit, Inc. announced financial results for its second fiscal quarter ended July 31, 2000 and first six months of its fiscal year 2001. ... Continue reading
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