Financial News

Hertz Global Holdings Inc. announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the…
Foundation Automotive, announced the acquisition of the Freestone Auto Group in Fairfield, Texas. Foundation will leverage Freestone's local roots to expand their Central Texas footprint. Freestone has a long-standing, and…
Kroll Bond Rating Agency (KBRA) has assigned ratings to five classes of American Credit Acceptance Receivables Trust 2020-2, an auto loan ABS transaction. American Credit Acceptance Receivables Trust 2020-2 issued…
In the week ending May 16, the advanced figure for seasonally adjusted initial claims in the United States was just under 2.5 million, a decrease of almost 250,000 from the…
Copart Inc. reported a decrease in revenue, gross profit and net income in its first quarter financial results ending April 30. For that quarter, revenue, gross profit, and net income…
Santander Consumer USA Holdings Inc. issued a statement regarding its voluntary settlement with 33 states and the District of Columbia, which alleged that auto loans that SC funded through certain…
AutoNation, Inc. announced the pricing of $500 million aggregate principal amount of senior unsecured notes due 2030 at 4.750 percent. The notes will be issued at 99.479 percent of the…
The S&P/Experian Consumer Credit Default Indices show the composite rate of consumer credit defaults was nine points lower at 0.9 percent. It also showed the auto loan default rate dropped…
Penske Automotive Group Inc. announced that its Board of Directors has suspended its cash dividend. The company previously paid a quarterly dividend of $0.42 per share to shareholders on March…
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