News By Topic: Credit Bureaus (Chrysler Credit, GMAC, etc.)

Fitch Issues Presale Rpt On Ford Credit Auto Owner Trust 2001-E

Sep 26, 2001

Fitch issued a presale report today on Ford Credit Auto Owner Trust 2001-E discussing the rating analysis behind Fitch's expected `AAA' ratings on the class A notes, `A' ratings on the class B notes and `BBB+' ratings on the class C certificates. The securities are backed by a pool of prime retail installment sales con ... Continue reading

New Car Buyers Returning To Showrooms

Sep 25, 2001

The Wall Street Journal reported today that buyers returned to new-car showrooms over the weekend, lured in part by interest-free offers from General Motors and Ford. It went on to quote Van Bussman a J.D. Power & Associates economist, "While it's too early to say there's been a definite and sustained turnaround, I thi ... Continue reading

ERAC Canada Finance Ltd. and Enterprise Rent-A-Car Company

Sep 24, 2001

Rating Trend Rating Action Debt Rated A (low) Stable Confirmed Senior Notes - ERAC Canada Finance Ltd. R-1 (low) Stable Confirmed Commercial Paper - ERAC Canada Finance Ltd. A (low) Stable Confirmed Corporate Rating - Enterprise Rent-A-Car Company DBRS is confirming the above ratings of ERAC Canada Finance Ltd. and Ent ... Continue reading

Fitch Comment on the ABCP Market, Impact of Terrorist Attacks

Sep 24, 2001

In spite of the terrorist attacks that befell the United States last week, the asset-backed commercial paper (ABCP) market persevered and exhibited only minor interruptions. In light of these recent events, Fitch reviewed all ABCP programs rated by the firm. Fitch's review included an assessment of the administrator's ... Continue reading

Standard Automotive Announces Extension of Forbearance Under Credit Facility

Sep 21, 2001

Standard Automotive Corporation announced that the Company and its bank lenders under the Company's Term Loan and Revolving Credit Facility ("Credit Facility") have entered into a extension of the forbearance agreement under the Credit Facility, expiring on September 28, 2001. The Company and the bank lenders are curre ... Continue reading

Volkswagen and Related Companies Credit Ratings

Sep 20, 2001

Rating Trend Rating Action Debt Rated A (high) Stable Confirmed Corporate Rating (Volkswagen AG) A (high) Stable Confirmed Corporate Rating (VW Credit Canada, Inc.) R-1 (middle) Stable Confirmed Commercial Paper (VW Credit Canada, Inc.) A (high) Stable Confirmed Corporate Rating (Volkswagen Canada Inc.) R-1 (middle) St ... Continue reading

Fitch Rates AmeriCredit Automobile Receivables Trust 2001-C

Sep 19, 2001

Fitch rated the receivables-backed notes issued by AmeriCredit Automobile Receivables Trust 2001-C as listed below: -- $230,000,000 class A-1 fixed-rate money market notes, rated `F1+'; -- $395,000,000 class A-2 fixed-rate notes, rated `AAA'; -- $525,000,000 class A-3 variable-rate notes, rated `AAA'; -- $450,000,000 c ... Continue reading

AmeriCredit Postpones Investor Seminar in New York

Sep 12, 2001

AMERICREDIT CORP. is postponing its 2001 Investor Seminar in New York City originally scheduled for Thursday, September 13, 2001. The meeting will be rescheduled at a later date. AmeriCredit is the largest independent middle market automobile finance company in North America specializing in purchasing and servicing aut ... Continue reading

AmeriCredit Announces $1.6 Billion Asset-Backed Securitization

Sep 6, 2001

AMERICREDIT CORP. announced today the pricing of a $1.6 billion offering of automobile receivables-backed securities through Credit Suisse First Boston, Banc of America Securities LLC, Barclays Capital, Deutsche Banc Alex. Brown, and Merrill Lynch & Co. The securities will be issued via an owner trust, AmeriCredit Auto ... Continue reading

Hyundai Motor Finance Closes $600 Million Asset Backed Securitization

Aug 30, 2001

Hyundai Motor Finance Co. today announced the closing of a $600 million asset securitization transaction backed by more than 45,000 automobile loans in the United States. The transaction was underwritten by JPMorgan with Bank of America Securities, Societe Generale, and Barclays Capital acting as co-managers. The trans ... Continue reading

Ford Motor Credit Downgraded to "A" From A (High)

Aug 21, 2001

Rating Trend Rating Action Debt Rated "A" Stable Downgraded Corporate Rating The above rating of Ford Motor Credit Company ("FMCC") is downgraded to "A" from A (high) and the trend is changed to Stable from Negative. The action is in line with the accompanying rating action on Ford Motor Company ("Ford" or "the Company ... Continue reading

Medallion Financial Corp. Announces Second Quarter Results

Aug 10, 2001

Medallion Financial Corp. , the leading finance company serving the taxi industry, and the world's largest taxitop advertising company, announced operating earnings for the 2001 second quarter of $2,599,000 or $0.17 per diluted common share, compared to operating earnings of $2,331,000, or $0.16 per share for the 2001 ... Continue reading

AmeriCredit Reports Record Q4 and Fiscal Year End Operating Results

Aug 8, 2001

AMERICREDIT CORP. today announced record net income of $71,707,000, or $0.81 per share, for its fourth fiscal quarter ended June 30, 2001, versus earnings of $37,158,000, or $0.46 per share for the same period a year earlier. On a comparative basis, earnings increased 93% and earnings per share rose 76%. For the fiscal ... Continue reading

Fitch Assigns Mercury General Corp.'A+' L-T Issuer And Debt Rtg

Jul 30, 2001

Fitch has assigned an 'A+' long-term issuer rating to Mercury General Corp. (Mercury), and a preliminary 'A+' senior debt rating to Mercury's recently announced proposed debt offering. The Rating Outlook is Stable. The strong rating is supported by Mercury's excellent track record of superior underwriting results, cons ... Continue reading

Ford Credit Earns $367 Million in the Second Quarter

Jul 18, 2001

Ford Credit Earns $367 Million in the Second Quarter DEARBORN, Mich., July 18 Ford Credit earned $367 million in the second quarter of 2001, with total earnings for the first half of 2001 totaling $760 million. Excluding adjustments related to SFAS 133 (Accounting for Derivative Instruments and Hedging Activities), For ... Continue reading