S&P: Enterprise unaffected

Standard & Poor's said Enterprise Holdings Inc.'s agreement to acquire PSA Peugeot Citroen's Paris-based car rental subsidiary does not affect the ratings or outlook on Enterprise.

The agency said it expects the transaction to have minimal effect on Enterprise's strong balance sheet and credit metrics.

While the company has not disclosed the price of the acquisition, S&P said it expects the price to be relatively modest, given the fairly small fleet size of about 30,000 vehicles, compared with Enterprise's total fleet of 1.2 million vehicles as of July 31.

The transaction is expected to be completed by the end of 2011, according to S&P.

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