AmeriCredit receives extensions on $1.95 billion warehouse facility

By Ted A. Knutson

Washington, Nov. 5 - AmeriCredit Corp. said Friday its AmeriCredit Financial Services, Inc. subsidiary has received extensions on a $1.95 billion warehouse facility that backs up a master trust.

Agreements with lenders extend the facility's $1.8 billion three-year commitment to Nov. 5, 2007 and prolong the $150 million one-year commitment to Nov. 2, 2005.

Deutsche Bank Trust Co. Americas is the administrative agent for the lenders.

The credit lines are backed by receivables from retail automotive loans.

Fort Worth, Tex.-based AmeriCredit specializes in giving auto loans to consumers with less than perfect credit.

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