SOUTHFIELD, Mich. — Credit Acceptance Corp. announced Wednesday that it has extended the maturity of its credit facility with a commercial bank syndicate from June 23, 2011, to June 22, 2012.

The amount of the facility remains unchanged at $150 million.

The interest rate on borrowings under the facility has been changed from the prime rate plus 1.0 percent or the Eurodollar rate plus 2.75 percent, at the company's option, to the prime rate plus 1.25 percent or the Eurodollar rate plus 2.25 percent, at the company's option.

The floor on the Eurodollar rate decreased from 1.50 percent to 0.75 percent. None of the financial covenants were modified.

The credit facility continues to be secured by a lien on most of the company's assets. As of June 9, 2010, the company had $6.5 million outstanding under the agreement.