Fitch affirms Ryder

Fitch Ratings said it affirmed Ryder System, Inc.'s long-term issuer default rating and senior debt at A- and short-term issuer default rating and short-term debt at F2.

The outlook is stable.

The affirmation reflects Ryder's established market position in the truck leasing business, operating consistency, strong liquidity, relatively low leverage and solid capitalization, Fitch said.

The ratings consider the cyclicality inherent in used vehicle pricing and the commercial rental business, material exposure to the automotive sector within the supply chain solutions segment, the volatile pension burden and the regulatory impact on business trends, the agency said.

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