Standard & Poor's has lowered its long-term debt and counterparty ratings on Transamerica Finance Corp., while affirming its rating on the company's commercial paper.The outlook was revised from negative to stable. The rating agency said the downgrades reflect declining trends in the profitability of Transamerica's equipment leasing business and in the business credit component of commercial finance. S&P said it will closely monitor Transamerica's remaining mortgage operations, consisting of Transamerica Mortgage Co. and Metropolitan Mortgage, which focus on secured B&C home equity loans.
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