Moody's slashes ratings on Hertz, Avis rental car ABS

Car Rental_230px
By Jennifer Kang
30 Apr 2020

Moody’s downgraded $10.6bn worth of rental car ABS notes from Hertz and Avis, citing weakened corporate credit profiles of both companies.

Hertz is reported to be preparing to file for bankruptcy, while Avis is also experiencing cash flow problems as rental car demand plummets.

On Monday, Moody’s downgraded 11 tranches of rental car ABS deals issued by Hertz and 32 tranches of deals issued by Avis Budget ...

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