Research Update: GATX Corp. Ratings Placed On Watch Negative Jun 09
Standard & Poors, June 2009
Abstract
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
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- GATX Corp.
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