Fitch affirms GATX

Fitch Ratings said it affirmed the long-term issuer default rating and senior unsecured debt ratings of GATX Corp. at BBB and the short-term issuer default rating and commercial-paper ratings at F2.

The outlook remains stable.

The ratings reflect GATX's leading position and expertise in the railcar leasing sector, consistent operating cash flow generation and relatively stable performance through the cycle, Fitch said.

Management's effort to extend lease terms over the previous years of peak market demand and pricing have helped maintain its fleet utilization, which provides stable operating performance and cash flow generation, the agency said.

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