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S&P lifts Amerco
Standard & Poor's said it raised its ratings on Amerco, including raising the corporate credit rating to BB from B+.
The ratings were removed from CreditWatch, where they were placed with positive implications on June 23, the agency said.
The outlook is stable.
S&P added that the upgrade reflects Amerco's improved financial profile since its March 2004 emergence from Chapter 11 bankruptcy protection, resulting from good cost controls and improved profitability at its insurance operations.
Ratings on Amerco reflect the company's aggressive financial profile, partially offset by its position as the largest consumer truck rental company in North America and its major position in self storage, the agency said.
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