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DBRS: Hertz view positive
DBRS said it confirmed Hertz Corp.'s issuer rating of BB and revised the trend to positive from stable.
The action follows Hertz's announcement that it is has entered into a definitive agreement to purchase Dollar Thrifty Automotive Group, Inc. for $1.3 billon, according to the agency.
The confirmation reflects Hertz's strong business franchise and solid market position in the daily vehicle rental business, its improving financial performance and solid fleet management, according to the agency.
The revision in the trend reflects DBRS's view that the proposed transaction will be a long-term positive for Hertz and will further strengthen Hertz's overall solid franchise, the agency said.
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