S&P puts Hertz on watch

Standard & Poor's said it placed its ratings on Hertz Corp., including the BB- corporate credit rating, on CreditWatch with negative implications.

The agency said that the CreditWatch placement is based on potential incremental debt at Hertz as well as on a more aggressive financial policy.

S&P added that the ratings on Hertz reflect a weakened financial profile after the successful completion of its $14 billion acquisition, reduced financial flexibility and the price-competitive nature of on-airport car rentals and equipment rentals.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.