GATX announced Fitch Ratings assigned the company a BBB+ long-term issuer default rating (IDR) with a stable outlook, a BBB+ senior unsecured debt rating, a F2 short-term IDR and a F2 commercial paper rating.
According to Fitch’s published report, the rating and outlook reflect GATX’s established market position within the railcar leasing industry; diversified fleet portfolio across customers, industries and car types; strong asset quality; appropriate leverage; solid liquidity and experienced management team. GATX’s ability to generate strong cash flow through cycles and a predominantly unsecured funding profile also informed Fitch’s assessment.
“We are pleased to obtain Fitch’s BBB+ rating with a stable outlook,” Thomas A. Ellman, executive vice president and chief financial officer of GATX, said. “This rating recognizes our long-standing business strategy, strong credit attributes and track record of delivering solid operating and financial results for our stakeholders.”
