S&P cuts Ahern Rentals

S&P said it downgraded Ahern Rentals Inc. to CCC+ from B- and its senior secured second-lien notes due 2023 to CCC from B-.

“S&P Global Ratings expects equipment rental company Ahern Rentals Inc. will face significantly lower demand during 2020 due to the economic fallout from the coronavirus pandemic, and the company may face covenant pressure over the next 12 months,” said S&P in a press release.

The outlook is negative.

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