NEW YORK (Standard & Poor's) Oct. 9, 2006--Standard & Poor's Ratings Services assigned a 'BBB' rating to GATX Financial Corp.'s $200 million 5.5% senior notes due 2012. All ratings on GATX Corp. and its major operating subsidiary, GATX Financial Corp., including the 'BBB' corporate credit rating on both entities, remain on CreditWatch with positive implications, where they were placed on Sept. 28, 2006. GATX, based in Chicago, primarily leases specialty railcars, aircraft, and technology. The CreditWatch placement is based on the company's September 28 announcement that it has reached a definitive agreement to sell the majority of its remaining aircraft leasing operations to a consortium of investors. The sale will improve the company's business risk profile, as remaining operations will...
Companies mentioned in this report are:
- GATX Financial Corp.
- GATX Corp.
Action: CreditWatch Update
Action: New Rating
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Research type: News
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