Moody's upgrades Enterprise

Moody's Investors Service said it raised the long-term rating of ERAC USA Finance Co. to Baa1 from Baa2 and kept its short-term rating at Prime-2. ERAC's debt is guaranteed by Enterprise Holdings, Inc.

The outlook is stable.

The agency said the upgrade reflects the continuing improvement in the operating environment within the domestic car rental sector as well as the financial and competitive advantage that Enterprise maintains relative to other rental companies.

The company's credit profile is also supported by a highly prudent and disciplined financial strategy, Moody's added.

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