DBRS confirms Fiat Finance Canada Limited at A (low) and R-1 (low)
Jul 3, 2001
Rating Trend Rating Action Debt Rated A (low) Negative Confirmed Corporate Rating R-1 (low) Stable Confirmed Commercial Paper DBRS is confirming the corporate rating of Fiat Finance Canada Limited, based on its parent and guarantor, Fiat S.p.A. ("Fiat" or "the Company") at A (low) with a Negative trend and the commerci ... Continue reading
Westar Financial Revenues Triple in 1Q02 to $140 Million
Jul 3, 2001
Westar Financial Services Incorporated, the leading automobile e-finance company, reported that revenues almost tripled to $140 million for its first fiscal quarter of 2002 from $37 million in the first quarter ended June 30, 2001. This record top line growth marks the fourth consecutive quarter with revenue growth of ... Continue reading
DBRS confirms DaimlerChrysler Canada Finance Inc. at A (low)
Jun 27, 2001
Rating Trend Rating Action Debt Rated A (low) Stable Confirmed Medium Term Notes DBRS is confirming the medium term notes rating of DaimlerChrysler Canada Finance Inc., based on the ultimate parent and guarantor, DaimlerChrysler AG ("Daimler" or "the Company") at A (low) with a Stable trend. The Company is planning to ... Continue reading
Fitch Rates Capital Auto Receivables Asset Trust 2001-2 `AAA/A+'
Jun 27, 2001
Fitch rates the Capital Auto Receivables Asset Trust 2001-2 $680 million floating-rate class A-2, $385 million 4.60% class A-3, and $150.643 million 5% class A-4 asset-backed notes `AAA'. In addition, $64.567 million floating-rate asset-backed certificates are rated `A+'. The ratings are based upon the available credit ... Continue reading
S&P Rates World Omni 2001-A Auto Lease Sec Tr Notes
Jun 25, 2001
Standard & Poor's today assigned its ratings to the class A and B asset-backed notes issued by World Omni 2001-A Automobile Lease Securitization Trust (see list). The rating assigned to the class A-1 notes is based on the result of cash flow runs, which demonstrate that under a zero prepayment scenario the money market ... Continue reading
Credit Acceptance Completes $120,000,000 Revolving Credit Agreement
Jun 12, 2001
Credit Acceptance Corporation announced today that it has completed a $120 million credit agreement with a group of commercial banks which will replace its current $115 million credit facility. Borrowings under the facility will bear interest at the bank's prime rate or 1.4% over the Eurocurrency rate at the Company's ... Continue reading
O'Melveny & Myers LLP Represented Toyota Motor Credit in Global Offering
Jun 11, 2001
A team of O'Melveny & Myers lawyers, including David Johnson, Daniel Dunn, Luc Mortiz, Patrick Ross, Fran Lossing, Diane Mage Roberts, and Matt Fojut, represented Nomura Securities and Daiwa Securities SMBC Europe Limited, as lead managers for the Toyota Motor Credit Corporation 50,000,000,000 yen (approximately U.S. $ ... Continue reading
S&P Asgns Rtgs to DaimlerChrysler Auto Tr 2001-B Nts
Jun 11, 2001
Standard & Poor's assigned its ratings to DaimlerChrysler Auto Trust 2001-B's $1.5 billion asset-backed notes (see list). The ratings reflect credit enhancement in the form of 3.50% of initial overcollateralization, 3.25% subordinated asset-backed certificates, a 0.25% fully funded reserve account, and about 1.0%-2.0% ... Continue reading
National Auto Credit Announces Financial Results
May 17, 2001
National Auto Credit, Inc. announced financial results for its year ended January 31, 2001 and for the fourth quarter of fiscal 2001. For the year ended January 31, 2001, National Auto Credit has a net loss of $47,283,000 or $1.70 on the basis of 27,761,000 weighted average shares outstanding. The loss from continuing ... Continue reading
S&P Affirms Underwriters Guarantee Ins Co 'Bpi' FSR
Apr 16, 2001
Standard & Poor's today affirmed its single-'Bpi' financial strength rating on Underwriters Guarantee Insurance Co. (UGIC). The rating is based on limited product line and geographic diversification, weak operating performance, volatile reserve development, and an aggressive investment profile, somewhat offset by adequ ... Continue reading
AmeriCredit Reports Record Third Quarter Operating Results
Apr 12, 2001
AMERICREDIT CORP. today announced record net income of $60,430,000, or $0.70 per share, for its third fiscal quarter ended March 31, 2001, versus earnings of $32,410,000, or $0.41 per share for the same period a year earlier. On a comparative basis, earnings increased 86% and earnings per share rose 71%. For the nine m ... Continue reading
Hometown Auto Retailers Secures Floor Plan Financing from Ford Credit
Mar 20, 2001
Hometown Auto Retailers announced that Ford Motor Credit Co. has successfully taken over the floor plan financing from GE Capital for Hometown's 10 dealerships in Connecticut, Massachusetts, New Jersey, New York and Vermont. "We are excited to have Ford Motor Credit behind Hometown's floor plan financing, and we look f ... Continue reading
More Competition For Point of Sale Auto Financing
Mar 13, 2001
New Alliance at CBA Automobile Finance Conference March 12-15 ANNAPOLIS, Md., and JACKSONVILLE, Fla., March 12 InsideOut Technologies Inc.(TM), an American Management Systems company, and dealerAccess(TM), a joint venture among The CIT Group, Bank of Montreal and Royal Bank of Canada, enter a strategic partnership to o ... Continue reading
Fiserv, Inc. Announces 100th Acquisition with Purchase of Remarketing Services of America, Inc.
Mar 12, 2001
BROOKFIELD, Wis.--March 12, 2001-- Specialized Provider of Vehicle Remarketing Services to Complement Fiserv Capabilities for Automotive Leasing Industry Fiserv, Inc. announced today that it has acquired Remarketing Services of America, Inc. (RSA), a specialized provider of portfolio services for the automotive finance ... Continue reading
Garrett Invests $60M in VNT Turbochargers for Europe's Diesel Market
Mar 5, 2001
To satisfy increasing customer demand for diesel-powered vehicles, Garrett Engine Boosting Systems will invest US$60 million this year in the European diesel market to boost capacity of its Variable Nozzle Turbine (VNT) turbochargers. Garrett's VNT turbochargers are quickly becoming the state-of-the-art option in Europ ... Continue reading
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