Fitch sees rating GATX notes BBB+

Fitch Ratings said it expects to assign a BBB+ rating to GATX Corp.'s planned sale of senior unsecured notes. The interest rate and maturity date will be determined at the time of issuance.

“The unsecured debt rating is equalized with GATX's long-term issuer default rating (IDR) of BBB+, which reflects sufficient unencumbered assets to support unsecured noteholders and suggests average recovery prospects under a stress scenario,” Fitch said in a press release.

The proceeds are expected to be used for general corporate purposes, including the repayment of upcoming debt maturities.

The outlook is stable.

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