Fitch Raises Ryder's Debt Rating
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Ryder is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
itch Ratings said Monday it raised the unsecured debt rating of Ryder System to “A minus” from “BBB plus,” and revised its rating outlook to stable from positive for the company.
The change reflects Ryder’s strong balance sheet, improved profitability and solid market position in the over-the-road truck leasing business, Fitch said in a statement.
Fitch said it believes Ryder will be challenged to maintain its current level of profitability through an entire business cycle and in light of what, if any, looming 2007 diesel-engine emissions standards will have on the trucking industry and equipment values.
