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Moody's could cut GATX
Moody's Investors Service said it is reviewing the Baa1 long-term and Prime-2 short-term ratings of GATX Corp. for possible downgrade.
Moody's said the review of GATX's ratings is based on its view that the risk profile of market-funded financial institutions, including GATX, is higher than previously indicated by their ratings.
GATX relies on wholesale funding to finance its investment in rail and marine lease assets, exposing the firm to investor confidence sensitivity relating to its own intrinsic credit profile and to volatile funding conditions generally, the agency said.
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