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Moody's assigns Ba3 to Hertz loan
Moody's Investors Service said it assigned a Ba3 rating to the new $400 million incremental senior secured term loan B of the Hertz Corp.
Hertz’s other ratings remain unchanged, including the B2 corporate family rating, the B2-PD probability of default rating, the Ba3 rating of the senior secured bank credit facilities and the Caa1 rating of the senior unsecured notes, the agency said.
Hertz intends to use the loan to repay borrowings under the senior secured revolving credit facility and for general corporate purposes.
The outlook is stable.
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