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

Ford Credit Reports Improved Earnings

Jan 21, 1999

Ford Motor Credit Company's earnings in 1998 were $1.084 billion, up $53 million or 5 percent, from 1997 earnings of $1.031 billion, Chairman and Chief Executive Officer Philippe Paillart announced. ... Continue reading

Union Acceptance Corporation Reports 2Q Net Earnings

Jan 19, 1999

Union Acceptance Corporation reported net earnings of $2.9 million, or $0.22 per diluted share, for the second quarter ended December 31, 1998, compared to $1.2 million, or $0.09 per diluted share, reported in the comparable quarter of last year. ... Continue reading

Ford Credit Auto Owner Trust 1999-A Expect 'AAA' Rating

Jan 15, 1999

The expected ratings on the class A and B notes are based on their respective levels of subordination and the specified credit enhancement amount. ... Continue reading

Textron Acquires Division of NationsCredit

Jan 15, 1999

Textron Inc. announced that it has acquired all of the assets of Business Leasing Group (BLG), a division of NationsCredit Commercial Corporation, which is a subsidiary of BankAmerica. Terms of the transaction were not disclosed. ... Continue reading

AmeriCredit Corp. Announces Record 2Q Operating Results

Jan 14, 1999

AmeriCredit Corp. announced record net income of $17,376,000, or $0.26 per share, for its second fiscal quarter ended December 31, 1998, versus restated earnings of $11,912,000, or $0.18 per share, for the quarter ended December 31, 1997. ... Continue reading

Hometown Auto Enters Into $100M Credit Facility With GE Capital AFS

Jan 11, 1999

Homwtown Auto Retailers, Inc. announced it has entered into an agreement with GE Capital Auto Financial Services providing the Company with a $100 million credit facility. ... Continue reading

DCR Rates Provident Auto Lease ABS Trust 1998-2

Dec 31, 1998

Duff & Phelps Credit Rating Co. has assigned a 'AAA' rating to the 6.037 percent $135,400,000 Asset-Backed Notes and a 'AA' rating to the 7.010 percent $6,201,000 Asset-Backed Certificates issued by Provident Auto Lease ABS Trust 1998-2 ... Continue reading

Citibank Program to Aid in Used Car Purchase and Leasing

Dec 29, 1998

Citibank announced today that effective January 1, 1999, the Citibank Driver's Edge Rebate Program will be expanded to allow cardmembers to redeem rebates toward the purchase or lease of any used car ... Continue reading

Onyx Acceptance Announces Ammendment to Primary Credit Facility

Dec 29, 1998

Onyx Acceptance Corporation announced today the successful amendment to its primary credit facility. The transaction boosts the Company's borrowing capacity, in this facility, to $375 million from $325 million. ... Continue reading

The big dealers get bigger

Dec 21, 1998

ALLTEL and Ford Credit Team to Develop Finance Software

Dec 9, 1998

ALLTEL announced that it has formed a strategic alliance with Ford Credit to develop market-leading systems for automotive finance. ... Continue reading

Consumer Portfolio Services Securitizes Automobile Receivables

Dec 8, 1998

Consumer Portfolio Services Inc. announced that it has completed the securitization of $310 million of its automobile receivables. CPS Auto Receivables Trust 1998-4 issued five classes of notes with interest rates ranging from 5.473% to 5.890% ... Continue reading

Gilman and Pastor Files Suit Against National Auto Finance Company

Dec 8, 1998

The following is being issued by the law firm of Gilman and Pastor, LLP on behalf of persons who purchased National Auto Finance Company, Inc. stock between January 29, 1997 and July 8, 1998 (the "Class Period"): ... Continue reading

DCR Rates Household Automobile Revolving Trust I, Series 1998-1

Dec 7, 1998

Duff & Phelps Credit Rating Co. (DCR) has assigned the following ratings to the notes issued by Household Automobile Revolving Trust I, Series 1998-1: ... Continue reading

Dana Completes Sale of Technology Leasing Assets to Heller Financial

Dec 3, 1998

Dana Commercial Credit Corporation, the leasing and financial services unit of Dana Corporation, announced the completion of the sale of its technology leasing group portfolio to Chicago- based Heller Financial, Inc. ... Continue reading