Printer Friendly

CHRYSLER FINANCIAL CORP. $250 MILLION NOTES DUE 1998 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 12 /PRNewswire/ -- Chrysler Financial Corp.'s $250 million 5.375 percent notes due Oct. 15, 1998, are rated `BBB' by Fitch. The credit trend is stable.
 The rating reflects CFC's improved financial flexibility and funding access as fortunes at parent Chrysler Corp. have improved. Due to bank restrictions, CFC has been unable to pay a dividend and through retained earnings, its leverage has fallen to under three times. Also, despite having sold most of its non-automotive assets over the past year, CFC's earnings have been respectable. For the first six months of 1993, CFC had an ROA of 0.98 percent before accounting changes.
 -0- 10/12/93
 /CONTACT: Nancy E. Stroker, CFA, 212-908-0533, or Valerie L. Gerard, 212-908-0577, both of Fitch/
 (C)


CO: Chrysler Financial Corp. ST: Michigan IN: FIN AUT SU: RTG

CK -- NY059 -- 1101 10/12/93 12:28 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 12, 1993
Words:146
Previous Article:HOECHST CELANESE, COPLEY PHARMACEUTICAL ANNOUNCE AGREEMENT FOR HOECHST CELANESE TO ACQUIRE 51 PERCENT OF COPLEY FOR $55 PER SHARE IN CASH
Next Article:PENNZOIL COMPLETES SALE OF $500 MILLION OF DEBENTURES EXCHANGEABLE INTO CHEVRON SHARES
Topics:

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