|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: GATX to Sell Subsidiary Dec 02
Standard & Poors, Dec 2002
Abstract
GATX Corp. (BBB/Negative/A-3) today announced its intent to sell its GATX Ventures operation and to curtail investment in its specialty finance business. Standard & Poor's Ratings Services said its ratings and outlook on GATX are not affected. Earnings from the ventures operation, which accounts for approximately 4% of GATX's assets, have been negatively affected over the past two years from impairment charges. The company has indicated that, if it is unable to sell Ventures, it will pursue other alternatives for exiting this business. The specialty finance unit, which accounts for approximately 10% of GATX's assets, will be folded into GATX's Corporate Finance unit, which manages third-party assets and pursues portfolio acquisitions that enhance its core operations. As a result, GATX...
Companies mentioned in this report are: GATX Corp.
Action: S&P Event
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.
|
|
|
|
