TOKYO (Standard & Poor's) Nov. 22, 2004Standard & Poor's Ratings Services today affirmed its 'A-' long-term and 'A-1' short-term ratings on the US$1.8 billion Euro medium-term note program of Hitachi Capital (U.K.) PLC and Hitachi Capital America Corp., guaranteed by Hitachi Capital Corp. (A-/Stable/A-1). The size of the program has increased to US$1.8 billion from US$1.4 billion. Hitachi Capital generates almost 90% of its operating profit from its finance business, mainly leasing to companies in Japan, and auto loans. The company has the biggest share of Japan's leasing market, and benefits from its affiliation with its parent company Hitachi Ltd. (A-/Stable/A-1) through a solid customer base mostly made up of companies and employees in the Hitachi Group. About 20% of...
Companies mentioned in this report are:
- Hitachi Capital Corp.
- Hitachi Ltd.
- Hitachi Capital (U.K.) PLC
- Hitachi Capital America Corp.
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