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Fitch affirms GATX
Fitch Ratings said it affirmed GATX Corp.'s long-term issuer default rating and senior unsecured debt at BBB and its short-term issuer default rating and commercial paper at F2. It also affirmed GATX Financial Corp.'s senior unsecured debt at BBB.
The outlook is stable.
The agency said the affirmation reflects GATX's leading market position and expertise in the railcar leasing sector, financial profile and funding flexibility.
While the specialty and ASC segments have begun to show some positive trends, rail segment performance remains weak, Fitch said. Further weakening of operating performance and cash flow generated from the railcar portfolio due to declines in fleet utilization or lease pricing could pressure the ratings and/or outlook.
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