S&P assigns BBB to Ryder MTNs

Standard & Poor's said it assigned its BBB rating to Ryder System Inc.'s $300 million medium-term notes.

S&P said its ratings on Ryder reflect the company's market position in its major business - full-service truck leasing - as one of the two major participants, and the strong and stable cash flow this business generates. The ratings also incorporate Ryder's supply chain and logistics businesses, which generate lower margins than full-service truck leasing, as well as the cyclicality of its commercial truck rental business.

The outlook is stable.

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