S&P rates Europcar B+

Standard & Poor's said it assigned a preliminary B+ long-term corporate credit rating to Europcar International SASU, a subsidiary of Europcar Groupe SA.

The outlook is negative.

The rating and outlook on Europcar International are the same as those on Europcar Groupe.

The ratings reflect the group's highly leveraged financial risk profile given its short-dated maturity profile and highly indebted financial structure, S&P said.

The company operates in an industry considered to be price competitive, cyclical and asset intensive, the agency said, and lacks earnings diversity beyond its main Western European markets.

But the company does hold a leading position in the European car rental market and has substantial operational flexibility and efficiency, S&P said.

© 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.