Research Update: GATX Corp. Ratings Raised, Off Watch Positive On Improved Credit Profile Jan 07
- ID: 1828310
- January 2007
- Standard & Poors
On Jan. 25, 2007, Standard & Poor's Ratings Services raised its ratings on GATX Corp. and its major operating subsidiary, GATX Financial Corp., including raising the corporate credit rating on both entities to 'BBB+' from 'BBB'. The ratings were removed from CreditWatch, where they were placed with positive implications on Sept. 28, 2006. The outlook is stable. The upgrade reflects the company's improved credit profile due to stronger earnings and disposition of its less-attractive aircraft leasing business. GATX's business risk profile will benefit from its increased focus on the more stable railcar leasing business (approximately 72% of revenues from continuing operations); its financial profile will also benefit, although to a lesser extent, with proceeds from the sale of the aircraft...
Companies mentioned in this report are:
- GATX Corp.
- GATX Financial Corp.
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Product Type: Research Update
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