Industry Report Card: U.S. Finance Companies' Encouraging Performance Belies A Tough Economy Aug 11
Standard & Poors, August 2011
Abstract
U.S. finance companies continued to improve their operating performance in the second quarter of 2011. Credit costs were lower for the finance companies that Standard & Poor's Ratings Services rates, and profitability improved. Favorable funding markets also allowed finance companies to issue and refinance debt. However, these favorable trends belie macroeconomic struggles that we expect to continue in the rest of 2011. For example, there are signs that credits markets are tightening, particularly for speculative-grade financial companies. The U.S. economic recovery remains slow as a result of sluggish GDP growth and continued high unemployment rates. Concerns about a global economic slowdown and sovereign debt burdens have added uncertainty, which has increased volatility in the global financial markets. The auto lenders...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- National Rural Utilities Cooperative Finance Corp.
- CIT Group Inc.
- Ford Motor Credit Co. LLC
- General Electric Capital Corp.
- Ally Financial Inc.
- Textron Financial Corp.
- PHH Corp.
- HSBC Finance Corp.
- OCWEN Financial Corp.
- General Motors Financial Co. Inc.
- Credit Acceptance Corp.
- CBRE Services Inc.
- SLM Corp.
- iStar Financial Inc.
- Nelnet Inc.
- MoneyGram International
- Western Union Co. (The)
- CapitalSource Inc.
- Asset Acceptance Capital Corp.
- SquareTwo Financial Corp.
- Kennedy-Wilson Holdings Inc.
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