Printer Friendly

MOODY'S NOTIFIES GATX OF CREDIT REVIEW

 MOODY'S NOTIFIES GATX OF CREDIT REVIEW
 CHICAGO, Sept. 17 /PRNewswire/ -- GATX Corporation (NYSE: GMT) said


that it has been notified by Moody's Investors Service that the securities ratings of GATX Corporation and its operating subsidiaries have been placed under review for possible downgrade. The review was prompted by concerns about asset quality problems at the company's financial services subsidiary, GATX Capital Corporation.
 GATX previously stated that it is concerned about two areas of GATX Capital's portfolio, freighter aircraft and real estate located in Southern California, and GATX Capital is currently conducting a review of the adequacy of its loss provision. Since the review is not completed, the company could not comment about the extent of any changes that might occur. This information is expected to be released when the portfolio review is completed.
 Being added to the Moody's credit review list does not necessarily mean that a revision in GATX or its operating subsidiaries' credit ratings will occur.
 -0- 9/17/92
 /CONTACT: George Lowman of GATX, 312-621-6599/
 (GMT) CO: GATX Corporation ST: Illinois IN: SU: RTG


LR -- NY080 -- 0758 09/17/92 14:52 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 17, 1992
Words:186
Previous Article:ITT SHERATON CORPORATION COMPLETES $160 MILLION ACQUISITION OF SEVEN PROPERTIES FROM MARRIOTT CORP.; INCLUDES ALL-SUITE HOTEL IN WILMINGTON
Next Article:CHARMING SHOPPES ANNOUNCES DIVIDEND
Topics:


Related Articles
GENERAL AMERICAN TRANSPORTATION TO ISSUE $60 MILLION IN PASS THROUGH CERTIFICATES
GATX CAPITAL REPORTS SPECIAL INCREASE TO RESERVES
GATX ANNOUNCES YEAR-END AND FOURTH QUARTER RESULTS; LOSS OF $16.5M REPORTED FOR YEAR; REFLECTS CHARGES TAKEN IN PREVIOUS QUARTERS
GATX A321 PARTNERS ORDERS NINE A321s
GATX PARTNERSHIPS ORDER B737-800s AND B757-200s VALUED AT $1.2 BILLION INCLUDING OPTIONS
Kansas City Southern Industries and GATX Capital Announce Joint Venture
GATX, Units Ratings Affirmed by S&P; Outlook Revised to Negative
GATX Corp. & Subsidiaries' Ratings Affirmed by S&P
GATX Capital L-T Debt, CP Rated BBB+ and F2 - Fitch IBCA -.
GATX Rail to Close Its East Chicago, Indiana, Service Center.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters