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Look Under the Car Inc. Hood
Car Inc. just recorded a big profit boost from a stake in its money-losing parent.
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A credit-rating cut by Moody's Investors Service has prompted equity and debt investors to take another close look at Chinese car rental business Car Inc. They should focus on its subsidiary-turned-parent, UCAR Inc.
Car Inc.'s downgrade to Ba2 from Ba1 certainly isn't good news for the Hong Kong-traded company, especially since a negative outlook was maintained. But at least ratings providers are shedding light on the firm.