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BULLETIN: GATX Corp. to Sell Its U.S. Terminals Operations Dec 00
Standard & Poors, Dec 2000
Abstract
Corporate credit rating: BBB+/Negative/-- GATX Corp. has announced agreement to sell its U.S. terminals operations to Kinder Morgan Energy Partners L.P. for approximately $1.15 billion. Standard & Poor's said today that although the transaction will not have an immediate impact on the ratings or outlook, the negative outlook on GATX could eventually be affected depending on how the company intends to apply the expected net proceeds of approximately $700 million. After the sale, GATX's primary operations will be GATX Rail Corp., the largest full-service lessor of railcars in North America, and GATX Capital Corp., a finance and operating lessor of diversified equipment. The current outlook reflects an aggressive acquisition strategy, particularly at GATX Capital, resulting in increased consolidated debt leverage....
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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