Fitch: Ryder unaffected

Fitch Ratings said it does not view Ryder System Inc.'s (A-/F1) recently announced downward earnings revisions for second-quarter and full-year 2012 as posing rating concerns at this time.

The lowered guidance, which primarily reflects declining commercial rental demand, and lower gains associated with reducing excess used vehicle inventory, is mitigated by leverage maintenance within the management-articulated target of 2.5x-3.0x and the proactive nature of steps taken by the company to manage its used vehicle inventory, according to the agency.

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