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S&P Places Hitachi Credit on CreditWatch Negative Sep 98
Standard & Poors, September 1998
TOKYO -- Standard & Poor's CreditWire 9/7/98 -- Standard & Poor's today placed its long-term double-'A'-minus and short-term 'A-1+' ratings for Hitachi Credit Corp. (Hitachi Credit) on CreditWatch with negative implications. The rating action reflects the CreditWatch placement of Hitachi Ltd.'s long-term double-'A' and short-term 'A-1+' ratings with negative implications on September 4, 1998. Hitachi Ltd. owned 52.4% of Hitachi Credit, at March 1998. Hitachi Credit continues to demonstrate stable earnings, an adequate capital base, and strong liquidity. However, Hitachi Credit's business is still closely linked to Hitachi Ltd. and its group companies, which constitute a large portion of Hitachi Credit's customer and product base. Despite the company's success in diversifying its operations, its ratings still benefit from implied parental...
Companies mentioned in this report are: Hitachi Capital Corp.
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Hitachi Capital Corp.