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GATX Receives BBB+ Long-Term Issuer Rating From Fitch Ratings

January 31, 2023, 06:00 AM
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Related: Fitch Ratings, GATX

GATX Corporation announced that Fitch Ratings has assigned the Company a BBB+ Long-Term Issuer Default Rating (IDR) with a stable outlook, a BBB+ senior unsecured debt rating, an F2 short-term IDR and an 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,” said Thomas A. Ellman, executive vice president and chief financial officer of GATX. “This rating recognizes our long-standing business strategy, strong credit attributes and track record of delivering solid operating and financial results for our stakeholders.”

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