NEW YORK — Last week's revelation that General Motors would acquire AmeriCredit also prompted a reaction from Fitch Ratings.

A day after the automaker made its announcement, Fitch placed AmeriCredit on rating watch. The ratings firm explained it will now analyze GM's credit profile, saying AmeriCredit's ultimate rating will be affected by the strength or weakness of GM.

Fitch also believes the buyout will affect about $532.6 million of AmeriCredit debt. The company currently holds a long-term issuer default rating of B+ and a senior debt rating of BB/RR3.

GM's planned purchase of AmeriCredit — a deal meant to help the automaker meet consumer demand for leasing and non-prime financing — is slated to be an all-cash transaction for about $3.5 billion. The deal is expected to close in the fourth quarter.

Immediately after the acquisition proposal, shares of AmeriCredit rose 8 cents to $23.99.

AmeriCredit executives announced they will release fourth quarter and fiscal year 2010 operating results on Aug. 3 after the market closes. They indicated there will not be a conference call to discuss the results.