UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 2010
AmeriCredit Corp.
Exact name of registrant as specified in its charter)
| Texas | 1-10667 | 75-2291093 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
801 Cherry Street, Suite 3500, Fort Worth, Texas 76102
(Address of principal executive offices, including Zip Code)
(817) 302-7000
(Registrant’s telephone number, including area code)
(Not Applicable)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 1.01 | Entry into a Material Definitive Agreement |
On July 1, 2010, AmeriCredit Financial Services, Inc., a wholly-owned subsidiary of AmeriCredit Corp., announced the entry into an amendment to the Spread Account Agreement concerning the AmeriCredit Automobile Receivables Trust 2007-A-X insured by Syncora Guarantee Inc. f/k/a XL Capital Assurance Inc. The amendment to the Spread Account Agreement increased the level 2 trigger levels for the cumulative net loss test and the gross default test and amended certain credit enhancement requirements. This description of the amendment is a summary and does not purport to be complete, and is qualified in its entirety by reference to the copy of the amendment attached as Exhibit 99.1 to this Form 8-K, which is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
Exhibits
| 99.1 | Amendment No. 1 to the Spread Account Agreement, dated as of July 1, 2010, among Syncora Guarantee Inc. f/k/a XL Capital Assurance Inc., AmeriCredit Automobile Receivables Trust 2007-A-X and Wells Fargo Bank, National Association to the Spread Account Agreement, dated as of January 9, 2007. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AmeriCredit Corp. | ||||
| (Registrant) | ||||
| Date: July 1, 2010 | By: | /S/ CHRIS A. CHOATE | ||
| Chris A. Choate | ||||
| Executive Vice President, Chief Financial Officer and Treasurer | ||||
INDEX TO EXHIBITS
Exhibit | Exhibit | |
| 99.1 | Amendment No. 1 to the Spread Account Agreement, dated as of July 1, 2010, among Syncora Guarantee Inc. f/k/a XL Capital Assurance Inc., AmeriCredit Automobile Receivables Trust 2007-A-X and Wells Fargo Bank, National Association to the Spread Account Agreement, dated as of January 9, 2007. | |