Moody's rates Credit Acceptance, notes B1

Moody's Investors Service has assigned a corporate family rating of B1 and a first-priority senior secured note rating of B1 to Credit Acceptance Corp.

The outlook is negative.

According to the agency, the ratings reflects the company's relatively stable returns and strong capital position, considering its position as a well established provider of sub-prime auto loans through a network of unaffiliated used car dealers.

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