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

Standard Motor Products Announces Three Year Credit Facility

Dec 3, 1998

Standard Motor Products, Inc. automotive replacement parts manufacturer and distributor announced that it has entered into an agreement for a new three year $100 million unsecured committed revolving bank credit facility. ... Continue reading

Ford Credit to Give Santa's Elves a Boost Dec. 4 in Michigan

Dec 2, 1998

Ford Credit will give Santa's elves a giant boost when it presents more than 1,800 gifts purchased for Michigan children to Child and Family Services of Michigan Friday, Dec. 4, in the Ford Credit Building's Main Lobby at Ford Credit Headquarters. ... Continue reading

Snap-on Inc. and Newcourt Credit Group Expanding Relationship

Dec 2, 1998

Snap-on Inc. and Newcourt Credit Group announced they have signed a definitive agreement to form a new entity, Snap-on Credit LLC, which will be the preferred provider of financial services to Snap-on's global dealer and customer network. ... Continue reading

DCR Rates FirstCity Auto Receivables Trust 1998-3

Dec 1, 1998

Duff & Phelps Credit Rating Co. has assigned a 'AAA' rating to the 6.35 percent $60 million Class A asset-backed notes issued by FirstCity Auto Receivables Trust 1998-3. ... Continue reading

Ford Credit Acquires AMI Leasing Group

Nov 26, 1998

Ford Credit announced its planned acquisition of the AMI Leasing Group. AMI Leasing Group is a full--service commercial leasing company for cars, trucks and equipment. It will become a part of Ford Credit North America's lending operations ... Continue reading

Lithia Motors Completes Ford Credit Agreement and Acquisitions

Nov 25, 1998

Lithia Motors, Inc. announced that the previously announced agreement with Ford Credit was signed and funded on November 24, 1998. The new credit facility of $350m, which includes a $75m acquisition line, replaces a bank syndication. ... Continue reading

Westar Financial Services Opens Regional Office in Phoenix

Nov 25, 1998

Westar Financial Services Incorporated a prime-credit auto lessor, announced its new regional office in Phoenix has opened. The office will serve New Mexico, Utah, Nevada and southwestern Colorado, as well as Arizona. ... Continue reading

Technews Announces Class-Action Suits and Multi-State Investigations

Nov 24, 1998

Class-action lawsuits alleging deceptive and fraudulent practices have been filed in approximately 30 states and counting against Ford Motor Credit, the company that provides leases on Ford and Lincoln-Mercury vehicles. ... Continue reading

DCR Rates CL/PK Funding's $100M Trust-Secured Variable ABS Notes

Nov 20, 1998

Duff & Phelps Credit Rating Co. (DCR) issued ratings on the $100 million secured variable-rate asset-backed notes issued by CL/PK Funding Trust. The ratings are as follows: ... Continue reading

S&P Rates Progressive Southeastern Insurance 'AApi'

Nov 18, 1998

Standard & Poor's assigned its double-'Api' (Very Strong) insurer financial strength rating to Progressive Southeastern Insurance Co. ... Continue reading

Standard & Poor's Assigns DaimlerChrysler Corporate Credit Ratings

Nov 17, 1998

Standard & Poor's assigned its single-'A'-plus/'A-1' corporate credit ratings to the newly formed DaimlerChrysler AG, following the successful completion of a merger between Daimler-Benz AG and Chrysler Corp. The outlook is stable. ... Continue reading

National Auto Credit Pays Down Debt

Nov 11, 1998

National Auto Credit, Inc. announced the pay-off of substantially all of its outstanding lender debt totaling approximately $34.9 million. ... Continue reading

Aetna Industries Inc. Ratings Raised; Off S&PWatch

Nov 2, 1998

Standard & Poor's raised its corporate credit rating on Aetna Industries Inc. to single-'B'-plus from single-'B' and raised its senior unsecured rating on $85 million of debt maturities to single-'B' from single-'B'-minus. ... Continue reading

USCS Announces Statement Processing Agreement With Ford Credit

Nov 2, 1998

USCS International Inc. announced that its International Billing Services subsidiary has signed a statement processing agreement with Ford Credit, a wholly owned subsidiary of Ford Motor Company. ... Continue reading

Credit Acceptance Corporation Announces Q3 Earnings

Oct 29, 1998

Credit Acceptance Corporation announced that consolidated net income for the quarter ended September 30, 1998, was $5,611,000 or $.12 per diluted share compared to a net loss of $27,708,000 or $.60 per diluted share for the same period in 1997. ... Continue reading