DBRS confirms Enterprise

DBRS, Inc. said it confirmed Enterprise Holdings, Inc.'s A (low) issuer rating and ERAC Canada Finance Ltd.'s A (low) senior notes and R-1 (low) commercial paper. The trend is stable.

The agency said the confirmation reflects the company's leading market position in the home city and on-airport vehicle rental markets; its substantial and resilient earnings generation ability; its sound, well-managed financial profile; its proven ability to manage both corporate and fleet costs; and improving industry fundamentals, which DBRS sees continuing through 2012.

The confirmation also considers Enterprise's recent acquisition of Citer SA from PSA Peugeot Citroen, which was funded by cash on hand. DBRS views the transaction as a long-term positive for Enterprise because it further advances the company's stated goal of enlarging its international presence.

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