Fitch shifts eHi Car view to stable

Fitch Ratings said it revised the outlook on eHi Car Services Ltd.’s long-term issuer default rating to stable from negative and affirmed the long-term IDR at B. The senior unsecured rating and the rating on the company’s $400 million 5 7/8% notes due 2022 have also been affirmed at B with a recovery rating of RR4.

“The outlook revision reflects Fitch’s expectation that China-based eHi’s coverage, leverage metrics and financial flexibility will continue to improve as the company recovers from the disruptions caused by the coronavirus pandemic,” Fitch said in a press release.

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