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ERAC USA Finance LLC's $500 Million Rule 144A Notes Rated 'BBB+' Product Image

ERAC USA Finance LLC's $500 Million Rule 144A Notes Rated 'BBB+'

  • ID: 1785032
  • May 2011
  • Region: United States
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) May 11, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BBB+' rating to ERAC USA Finance LLC's (ERAC) $500 million 4.5% notes maturing 2021, a rule 144A offering without registration rights. ERAC's parent, Enterprise Holdings Inc. (Enterprise), guarantees the notes. Proceeds will be used for general corporate purposes, including repayment of outstanding commercial paper and other debt. The ratings on St. Louis, Mo.-based Enterprise and ERAC, its wholly owned finance subsidiary, reflect Enterprise's leading market position in the relatively stable off-airport (replacement and local) segment of the car rental industry, and good earnings and cash flow generation. Enterprise (parent of Enterprise Rent-A-Car, Alamo Rent-A-Car, and National Car Rental) is the largest...

Companies mentioned in this report are: ERAC USA Finance LLC,Enterprise Holdings Inc.
Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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ERAC USA Finance LLC,Enterprise Holdings Inc.

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Note: Product cover images may vary from those shown

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