S&P rates Ryder System notes BBB+

S&P said it assigned its BBB+ issue-level rating to Ryder System Inc.'s proposed medium-term notes.

“Our long-term BBB+ issuer credit rating on Ryder reflects the company's strong position as one of the two major participants in the full-service truck leasing market and the strong and stable cash flows this business generates.

“Our rating also incorporates the company's supply chain and logistics businesses, which generate lower margins than its full service truck-leasing business, and the cyclicality of its commercial truck business,” S&P said in a news release.

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