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DBRS: Hertz view to negative
DBRS said it confirmed the long-term issuer rating of Hertz Corp. at BB (low), as well as its long-term senior debt at B (high).
Concurrently, the agency revised the trend on the ratings to negative from stable.
DBRS assigned Hertz a support assessment of SA3, which resulted in the company’s intrinsic assessment to be equalized with the long-term issuer rating.
“The change in trend to negative from stable reflects the significant challenges that Hertz faces in improving the efficiency of its operations, as well as its profitability,” the agency said in a news release.
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