S&P rates Ryder System notes BBB+

S&P said it assigned its BBB+ issue-level rating to Ryder System Inc.'s proposed senior unsecured medium-term notes.

The company plans to use the proceeds from these notes to refinance its existing debt and for general corporate purposes.

“Our long-term BBB+ issuer credit rating on Ryder reflects the company's strong position as one of the two major participants in the full-service truck leasing market and the strong and stable cash flows this business generates,” S&P said in a news release.

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