News By Topic: Credit Bureaus (Chrysler Credit, GMAC, etc.)

Credit Acceptance Corporation Reports First Quarter Earnings

Apr 22, 1999

Credit Acceptance Corporation announced that consolidated net income for the quarter ended March 31, 1999 was $5,379,000 or $.12 per diluted share compared to $6,887,000 or $.15 per diluted share for the same period in 1998. ... Continue reading

BankBoston Dealer Finance Provides $5M in Financing to Harte Toyota

Apr 20, 1999

BankBoston Dealer Finance Inc. announced that it has provided a $5 million credit facility to Harte Toyota, Inc. ... Continue reading

Americredit Corp. Completes $200 Million Private Senior Unsecured Debt Offering

Apr 16, 1999

Americredit Corp. announced that it has completed the private issuance of $200 million of 9.875% Senior Notes due 2006 to certain qualified institutional buyers. ... Continue reading

Ford Credit Europe Announces Leasing Venture in Russia

Apr 15, 1999

Ford Credit Europe (FCE), the banking arm of Ford Motor Company announced the establishment of a vehicle leasing venture in Russia. ... Continue reading

IntelliChoice Announces April Gold Star Lease Winners

Apr 15, 1999

To give consumers a reason to get out of the weather and into a dealership, manufacturers are offering effective lease rates that are as low as 3.12%, helping make April an ideal time to lease a new car. ... Continue reading

UnitedAuto Enters Into Agreement for $83.0M Investment From Penske

Apr 13, 1999

UnitedAuto Group, Inc., the nation's second largest publicly traded automotive retailer, announced that it has signed a definitive agreement to secure $83.0 million in new capital funding from Penske Capital Partners, L.L.C. ... Continue reading

GE Capital Auto Financial Announces $48M Auto Loan Purchase

Apr 5, 1999

GE Capital Auto Financial Services announced that it has acquired $48 million of auto loan receivables originated in California and Nevada from Rockwell Federal Credit Union. Terms of the agreement were not announced. ... Continue reading

Westar Financial's Auto Lease Volume Exceeds $20 Million in Q4

Apr 1, 1999

Westar Financial Services Incorporated, a prime-credit auto lessor, reported it originated new leases totaling $20 million during its fourth fiscal quarter, ended March 31, 1999, achieving a growth rate in excess of 800%. ... Continue reading

Ford Credit First to Offer Internet Trading

Mar 31, 1999

When Denise Hammond, West Bloomfield Township treasurer, wanted to invest taxpayer funds in commercial paper, she used to spend minutes on the phone completing a transaction. ... Continue reading

Ford Credit Expands Focus on North American Growth

Mar 26, 1999

Ford Credit is focusing on growth opportunities in North America with the appointment of A.J. Wagner to vice president, major accounts. ... Continue reading

DCR Rates SNAAC Securitization Corp. III

Mar 25, 1999

Duff & Phelps Credit Rating Co. (DCR) has assigned a 'A' (Single-A) rating to the $25,668,256, 7.00 percent Class A Notes and a 'BBB' (Triple-B) rating to the $5,867,030, 8.67 percent Class B Notes issued by SNAAC Securitization Corp. III. ... Continue reading

Bank of America Completes Financing for Dura Operating Corp.

Mar 24, 1999

Bank of America completed $1.15 billion in senior credit facilities for Dura Operating Corp., a subsidiary of Dura Automotive Systems, Inc. ... Continue reading

GMAC-RFC Receives Special Servicer Designation

Mar 23, 1999

GMAC-RFC (Residential Funding Corporation) announced that it has been awarded the "Special Servicer" designation from international rating agencies Standard & Poor's (S&P) and Fitch IBCA (Fitch). ... Continue reading

Toyota Opens New Financial Services Center in Cedar Rapids, Iowa

Mar 19, 1999

CEDAR RAPIDS, Iowa, March 19 -- Toyota Motor Credit Corporation today announced the grand opening and dedication of a new, $20 million Financial Services Center in Cedar Rapids, Iowa. ... Continue reading

Insurance Auto Auctions Responds to Copart's Proposal

Mar 17, 1999

Insurance Auto Auctions, Inc. today said that its board of directors rejected an unsolicited merger proposal from Copart, Inc., because the offer was not in the best interest of its shareholders ... Continue reading