DBRS: Ryder notes BBB (high)

DBRS said it assigned a rating of BBB (high) to Ryder System, Inc.'s $350 million 3.5% medium-term notes due June 1, 2017.

The trend is stable.

The notes will rank pari passu with all other senior unsecured obligations of Ryder, DBRS said.

The proceeds are expected to be used for general corporate purposes, including the reduction of short-term debt, the agency said.

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