Kroll Bond Rating Agency assigned an A- issuer rating toElement Fleet Management Corp. and a BBB issuer rating to ECN Capital Corp.
The outlook is stable.
Element Fleet and ECN Capital are the companies into whichElement FinancialCorp. reorganized its business.
The rating agency also withdrew the BBB+ issuer and seniorunsecured debt ratings of Element Financial.
The rating for Element Fleet reflect its franchise strengthin North America andincreasing market position with strong growth prospects, seasoned managementwith experience in successfully integrated mergers and acquisitions, andindustry knowledge, as well as a shift in business dynamics to lower riskassets supported by strong financial performance.
The rating of ECN Capital reflects its leading positionin North America withinthe commercial finance industry, veteran management with substantial industryknowledge and deep industry relationships, as well as three defined anddiversified business segments.