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BULLETIN: GATX Corp. Announces Realignment of Subsidiaries' Legal Structure May 01
Standard & Poors, May 2001
Abstract
Corporate credit rating (GATX Corp.) BBB+/Positive/- Standard & Poor's ratings on GATX Corp. and its subsidiaries, GATX Capital Corp. (BBB+/Positive/A-2) and GATX Rail Corp. (BBB+/Positive/A-2), remain unchanged following GATX Corp.'s announced plans to pursue a realignment of the legal structure of its subsidiaries. The realignment would ultimately result in a combination of these two companies into a single legal entity. The ratings on GATX Corp. and its subsidiaries already incorporate consideration of the consolidated credit profile, as well as the credit strength of each of the two major rated subsidiaries. Accordingly, the proposed eventual combination of the subsidiaries is not believed to have ratings implications. In the first quarter of 2001, GATX Capital's loss provision amounted to $21.3 million, representing...
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.
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