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NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings expects to rate AmeriCredit Automobile Receivables Trust, series 2012-4 as detailed below.

Fitch's stress and rating sensitivity analysis are discussed in the presale report titled 'AmeriCredit Automobile Receivables Trust 2012-4', dated Sept. 4, 2012, which is available on Fitch's web site: [ www.fitchratings.com ].

Fitch expects to assign the following ratings:

--$162,600,000 class A-1 notes 'F1+sf';

--$390,800,000 class A-2 notes 'AAAsf'; Outlook Stable;

--$227,920,000 class A-3 notes 'AAAsf'; Outlook Stable;

--$84,170,000 class B notes 'AAsf'; Outlook Stable;

--$104,480,000 class C notes 'Asf'; Outlook Stable;

--$102,750,000 class D notes 'BBBsf'; Outlook Stable;

--$27,280,000 class E notes 'BBsf'; Outlook Stable.

Consistent Credit Quality: The credit quality of the 2012-4 pool is consistent with the prior three transactions. The weighted average (WA) Fair Isaac Corp. (FICO) score is 564, and the WA internal credit score rating is 241. Used cars total 51.2%, and the WA loan-to-value (LTV) ratio is 110%, consistent with recent pools.

Consistent Credit Enhancement Structure: The cash flow distribution is a sequential-pay structure, consistent with prior transactions. Initial hard credit enhancement (CE) is consistent with 2012-3, but lower than 2012-2 and the previous seven transactions. The reserve totals 2.00% (non-declining), and initial overcollateralization (OC) is 5.25% (both of the initial pool balance), growing to a target of 14.25% (of the current pool balance, excluding the reserve).

Stronger Portfolio/Securitization Performance: Losses on GM Financial's portfolio and 2009-2011 AMCAR securitizations have declined to some of the lowest levels ever seen, supported by the gradual economic recovery and strong used vehicle values supporting higher recovery rates.

Stable Corporate Health: Fitch rates GM 'BB+' and GM Financial 'BB' with a Stable Rating Outlook for both. GM Financial has recorded positive corporate financial results from 2010 onwards, while the overall health of GM has also improved since then.

Consistent Origination/Underwriting/Servicing: AFSI demonstrates adequate abilities as originator, underwriter, and servicer, evidenced by historical portfolio delinquency and loss experience and securitization performance. Fitch deems AFSI capable to adequately service 2012-4.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of GM Financial would not impair the timeliness of payments on the securities.

Additional information is available at '[ www.fitchratings.com ]'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Rating Criteria for U.S. Auto Loan ABS' dated April 16, 2012;

--'Global Structured Finance Rating Criteria' dated June 6, 2012;

--'Structured Finance Tranche Thickness Metrics' dated July 29, 2011.

Applicable Criteria and Related Research: AmeriCredit Automobile Receivables Trust 2012-4 (US ABS)

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=687980 ]

Structured Finance Tranche Thickness Metrics

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646951 ]

Global Structured Finance Rating Criteria

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923 ]

Rating Criteria for U.S. Auto Loan ABS

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=674859 ]

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