Fitch affirms Interpool

Fitch Ratings said it affirmed Interpool Inc.'s senior secured, senior unsecured, and preferred stock ratings at BB-, B, and CCC+, respectively. The ratings are removed from Rating Watch negative where they were placed on Oct. 10, 2003.

The outlook is positive.

Fitch said the Rating Watch negative was removed as Interpool has completed its financial restatement for fiscal years 2000, 2001, and 2002 with a negligible impact to credit fundamentals. While the company is not yet current with its Securities and Exchange Commission financial statement filings, Fitch said it has gained confidence that the company is ahead of the schedule announced in November 2003 to be in compliance with SEC financial statement reporting deadlines by the end of 2004.

Interpool has also been successful at maintaining an acceptable liquidity position through sourcing new secured financing and consistent retention of meaningful unrestricted cash balances.

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