DBRS Takes Rating Actions on AmeriCredit Automobile Receivables Trust

DBRS, Inc. (DBRS) reviewed 16 ratings from three AmeriCredit Automobile Receivables Trust transactions. Of the 16 outstanding publicly rated classes reviewed, six were upgraded, seven were confirmed and three were discontinued due to repayment. For the ratings that were upgraded, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their new respective rating levels. For the ratings that were confirmed, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The ratings are based on DBRS’s review of the following analytical considerations:
--Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to origination, underwriting and servicing.
Timing of Defaults/Losses Assumptions.

Notes:
The principal methodology is DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

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