S&P views Boeing Capital as a captive finance company
of Boeing, given its portfolio mix.
Bob Sattler, vice president of Hyster Capital (www.hyster.com ), the captive finance company
for Hyster Co., says he's seeing more refinancing activity than new-truck transactions.
For example, if Fitch believed that CFSC had become less core to CAT's strategic operations and/or adequate financial support was not provided to the captive finance company
in a time of need.
When a customer funds from a captive finance company
, such as TFS, it allows TFS to leverage its relationship with Toyota and the dealer network in order to remarket a customer's used lift truck equipment before financing the new trucks.
--A change in the perceived relationship between CNHI and CNHI Capital, for example, if Fitch believes that CNHI Capital is no longer core to CNHI's strategic operations or that adequate financial support will not be provided to the captive finance company
in a time of need;.
The ratings reflect the company's satisfactory profitability, good asset quality, and integration with its sole parent, Taiwan Acceptance Corp, which is the captive finance company
of Yulon Motors Co.