WARRENVILLE, Ill.--(BUSINESS WIRE)--
Navistar Financial Corporation (NFC), an affiliate of Navistar
International Corporation (NYSE: NAV), has signed an agreement
for a one-year renewal of a $500 million dealer floor plan funding
facility, effective immediately. This facility is funded through two of
NFC's major relationship banks.
"This renewal, combined with additional funding sources, ensures that we
have appropriate liquidity to help International® and IC Bus™ dealers
purchase their floor plan inventory," said David Johanneson, president
and chief executive officer of NFC. "Throughout the difficult economic
climate of the past few years, the credit quality of our portfolio and
the health of our dealer network have remained strong, and we continue
to have access to funding to support the profitable growth of Navistar."
NFC continues to facilitate the majority of customer finance needs in
the United States through Navistar Capital, its retail program formed
last year in alliance with GE Capital.
Navistar International Corporation (NYSE: NAV) is a holding company
whose subsidiaries and affiliates produce International® brand
commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™
brand school and commercial buses, Monaco® RV brands of recreational
vehicles, and Workhorse® brand chassis for motor homes and step vans. It
also is a private-label designer and manufacturer of diesel engines for
the pickup truck, van and SUV markets. The company also provides truck
and diesel engine service parts. Navistar Financial Corporation provides
financial programs and services tailored to satisfy Navistar's customer
and dealer equipment financing needs. Additional information is
available at www.Navistar.com/newsroom.
Forward-Looking Statement
Information provided and statements contained in this report that are
not purely historical are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, Section 21E of
the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements only speak as of the date of this report and the company
assumes no obligation to update the information included in this report.
Such forward-looking statements include information concerning our
possible or assumed future results of operations, including descriptions
of our business strategy. These statements often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate," or
similar expressions. These statements are not guarantees of performance
or results and they involve risks, uncertainties, and assumptions. For a
further description of these factors, see Item 1A, Risk Factors of our
Form 10-K for the fiscal year ended October 31, 2010, which was filed on
December 21, 2010. Although we believe that these forward-looking
statements are based on reasonable assumptions, there are many factors
that could affect our actual financial results or results of operations
and could cause actual results to differ materially from those in the
forward-looking statements. All future written and oral forward-looking
statements by us or persons acting on our behalf are expressly qualified
in their entirety by the cautionary statements contained or referred to
above. Except for our ongoing obligations to disclose material
information as required by the federal securities laws, we do not have
any obligations or intention to release publicly any revisions to any
forward-looking statements to reflect events or circumstances in the
future or to reflect the occurrence of unanticipated events.
Navistar
Media contact: Sara Mee, 630-753-4101
Investor
contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
Source: Navistar
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