SOUTHFIELD, Mich. — Credit Acceptance executives revealed recently an extension has been granted on their $75 million revolving secured warehouse facility.

The company indicated the date on which the facility will cease to revolve was moved from Aug. 31, 2011 to Sept. 10, 2013. Management added that the maturity of the facility also was extended from Aug. 31, 2012 to Sept. 10, 2014.

Credit Acceptance noted the interest rate on the facility was decreased from a floating rate equal to LIBOR plus 3.75 percent to LIBOR plus 3.0 percent.

"There were no other material changes to the terms of the facility," company executives stated.