- Language: English
- Published: June 2012
Summary: GATX Corp. Aug 11
- Published: August 2011
- Standard & Poors
Standard & Poor's Ratings Services' ratings on Chicago-based GATX Corp. reflect its position as a major tank car lessor in North America. GATX is a business that benefits from relatively consistent tank car lease demand and long-term leases and contracts that produce relatively stable cash flow. However, the ratings also incorporate the company's less predictable revenue and earnings in its Specialty and American Steamship Co. (ASC) segments and fairly high debt leverage relative to its peers. Beginning in late 2010, demand and pricing for rail cars began to recover, a trend we expect to persist as long as economic growth continues. These trends have resulted in improved earnings and cash flow. However, we expect the company's credit metrics to remain...
Companies mentioned in this report are:
- GATX Corp.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >
- GATX Corp.