Hertz debt outlook stable, was negative - Moody's

Newswire

NEW YORK, Nov 22 (Reuters) - Moody's Investors Service on Wednesday changed Hertz Corp.'s credit rating outlook to stable from negative, citing the completion of its initial public offering. Hertz used a portion of the proceeds from the IPO to repay a $1 billion loan facility that funded a $1 billion dividend payment to its common stockholders in June 2006, Moody's said in a statement. "The change in outlook to stable reflects Moody's view that the repayment of the Hertz Holdings' $1 ...

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