trending Market Intelligence /marketintelligence/en/news-insights/trending/NeS5y-eVjo58U8V_aONXKQ2 content esgSubNav
In This List

S&P upgrades Ally Financial on strong auto finance business, underwriting

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration


S&P upgrades Ally Financial on strong auto finance business, underwriting

S&P Global Ratings upgraded Ally Financial Inc.'s long-term issuer credit and unsecured debt ratings to BBB- from BB+. The outlook on the long-term rating is stable.

The upgrade is based on the increased resilience of Ally's auto finance business, significant growth of its deposits and direct banking customer base and improved profitability, the rating agency said.

The outlook reflects Ratings expectation that the company's auto finance and direct banking operations will remain resilient in the next two years through economic and interest rate cycles and that its capital ratios will remain adequate after CECL adoption, including a risk-adjusted capital ratio at the lower end of the 7% to 10% range.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.