Ford to Review Its Options for Hertz

Times Staff and Wire Reports

Moody's Investors Service said it is reviewing the debt ratings of Hertz Corp. and its subsidiaries for possible downgrade after an announcement by Ford Motor Co. that it is reviewing its options about a possible sale of the industry's leading rental car company. According to Moody's, the management of Hertz has implemented a strategy over recent years "which has resulted in Hertz achieving the status of the world's largest and most profitable daily car rental company." In its review, Moody's said it will consider the business and financial implications of any transactions or changes in Hertz's relationship with Ford. Ford is reportedly close to selling its stake in Budget Rent A Car Corp.

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