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Article: FINANCIAL FEDERAL CP PROGRAM AFFIRMED 'F-2' BY FITCH -- FITCH FINANCIAL WIRE --
- Article from:
- PR Newswire
- Article date:
- June 14, 1996
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Copyright informationCOPYRIGHT 1996 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, June 14 /PRNewswire/ -- Financial Federal Credit, Inc.'s (FFCI) 'F-2' commercial paper program is affirmed by Fitch. The company's ability to meet senior obligations is affirmed 'BBB.' The affirmations are in response to FFCI's increase in its commercial paper program from $100 million to $200 million. As of June 11, 1996, FFCI had $91 million of public commercial paper outstanding. The credit trend is stable.
The ratings reflect the company's strong operating performance since inception with good profitability and sound asset quality. Additionally, FFCI's parent, Financial Federal Corp. (FIF), received net proceeds of over $26 million from a secondary ...