Consumer Finance Firms' Outlook Bleak, Fitch Says.(Brief Article)

Prospects are still poor for consumer finance companies, Fitch Inc. officials said on Wednesday.

"Competitive pressures have changed the economic landscape" for the industry, said Thomas Abruzzo, a senior director for the New York ratings firm, in a conference call with analysts and reporters.

With capital markets volatile, competition keen, and the economy slogging through its first recession in a decade, investors have turned against finance companies. Access to the capital markets could be hard for them to come by until the economy recovers and investors regain their confidence, Mr. Abruzzo said.

Finance companies have been hurting for years. …