Hertz Corporation (The) -- Moody's changes Hertz outlook to negative; B1 CFR affirmed

New York, November 28, 2016 -- Moody's Investors Service (Moody's) changed The Hertz Corporation's (Hertz) rating outlook to negative and affirmed the company's B1 Corporate Family Rating (CFR), as well as its other debt ratings. The change in outlook reflects the uncertainty surrounding Hertz's ability to implement a number of critical initiatives that include: 1) better aligning its fleet mix with customer demand; 2) implementing disciplines that more effectively manage residual risk; and 3) realizing targeted cost cutting goals. The considerable challenges Hertz is facing in these areas are reflected in the significant $300 million reduction in the company's 2016 adjusted corporate EBITDA guidance -- to approximately $600 million from $900 million.

Vollständigen Artikel bei Moodys lesen