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Industry Report Card: U.S. Finance Companies Saw Brighter Skies In The Third Quarter Nov 10

  • ID: 1802107
  • November 2010
  • Region: United States
  • Standard & Poors
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  • Ally Financial Inc.
  • CapitalSource Inc.
  • CIT Group Inc.
  • Euronet Worldwide Inc.
  • iStar Inc.
  • Navient LLC.
  • MORE

The operating performance of U.S. finance companies that Standard & Poor's Ratings Services rates strengthened in the third quarter of 2010. Sturdier balance sheets, improved profitability, and increased funding options generally typified the companies' performance during the quarter. However, areas of weakness remain and the tentative economic outlook has clouded our expectations for future financial performance. Credit continued to improve, particularly regarding consumer asset classes outside of residential real estate. The performance of our rated credit card issuers exemplified this trend, with delinquencies and net charge-offs continuing to decline. This resulted in materially lower credit provisions (or in Discover Financial's case, a release of reserves), which bolstered earnings. Ford Motor, General Motors Financial, and Ally Financial's vehicle finance business also...

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- National Rural Utilities Cooperative Finance Corp.
- American Express Co.
- CIT Group Inc.
- Ford Motor Credit Co. LLC
- General Electric Capital Corp.
- Ally Financial Inc.
- Textron Financial Corp.
- PHH Corp.
- OCWEN Financial Corp.
- Dollar Financial Group Inc.
- General Motors Financial Co. Inc.
- Credit Acceptance Corp.
- CBRE Services Inc.
- Navient LLC.
- iStar Inc.
- Nelnet Inc.
- Discover Financial Services Inc.
- MoneyGram International
- Western Union Co. (The)
- Euronet Worldwide Inc.
- CapitalSource Inc.
- Asset Acceptance Capital Corp.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown