CREDIT ACCEPTANCE CORP — Form 8-K
Filed September 21, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Credit Acceptance Funding LLC 2019-2 amended its $500M Loan and Security Agreement with Wells Fargo Bank (Deal Agent/Lender), extending the Commitment Termination Date from September 2026 to September 2028, and the Final Scheduled Payment Date from September 2032 to September 2034. The amendment also increased the Yield Rate from 5.43% to 5.83% during the Revolving Period, and from 5.93% to 6.33% post-Commitment Termination Date if not reacquired. Computershare Trust Company, N.A. succeeded Wells Fargo as Backup Servicer and Collateral Agent. Wells Fargo received a $500,000 upfront fee. The underlying securitization structure—auto retail installment contracts and dealer loans—remains substantially unchanged.
Why this rating
Routine amendment extending warehouse maturity 2 years, raising rates modestly (~40 bps). Non-core refinancing mechanics; no change to collateral, servicer duties, or capital structure. Administrative in nature relative to $2.8B market cap.
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