Research Update: GATX Corp. Ratings Placed On Watch Negative Jun 09
- ID: 1827118
- June 2009
- Standard & Poors
We are placing our long-term ratings, including the 'BBB+' corporate credit rating, on GATX Corp. on CreditWatch with negative implications. We are basing the rating action on our anticipation of a weaker financial profile through 2010, reflecting our expectation of continuing pressure on railcar utilization and lease rates, and reduced portfolio proceeds from the company's Specialty business. We did not place GATX's short-term 'A-2' rating on CreditWatch. On June 29, 2009, Standard & Poor's Ratings Services placed its long-term ratings on railcar lessor GATX Corp., including the long-term 'BBB+' corporate credit rating, on CreditWatch with negative implications. We did not place the short-term 'A-2' rating on CreditWatch. We based these actions on our anticipation of a weaker credit profile through...
Companies mentioned in this report are:
- GATX Corp.
Action: On CreditWatch:Negative
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Product Type: Research Update
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