S&P rates Ryder notes BBB+

Standard & Poor's said it assigned a BBB+ rating to Ryder System Inc.'s $300 million senior unsecured notes due 2016.

The proceeds will be used for general corporate purposes and the repayment of indebtedness and commercial paper.

The ratings reflect the economy's continued improvement and increased demand for commercial truck rental and supply chain services, which will strengthen Ryder's profitability and cash flow over the next few quarters, S&P said.

The company's leading market positions in its major businesses (fleet management solutions and supply chain solutions) and its ability to generate stable cash flow are key underpinnings of the rating, the agency said.

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