S&P affirms United Rentals

Standard & Poor's said it removed the ratings on United Rentals (North America) Inc. and on its parent, United Rentals Inc. (URI), from CreditWatch with developing implications.

At the same time, S&P said it affirmed its ratings on the company, including its BB- corporate credit rating.

The ratings were originally placed on CreditWatch with negative implications on Aug. 30, 2004, the agency said.

The outlook is positive.

S&P added that the rating and outlook reflect the improved industry fundamentals in the cyclical equipment rental industry, URI's strengthening credit metrics and our expectations that the company will maintain financial and acquisition discipline.

According to the agency, the ratings on URI reflect its weak business risk profile in the cyclical, highly competitive and fragmented equipment rental sector and its aggressive financial profile.

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