S&P lifts Ahern Rentals

Standard & Poor's said it raised its ratings on Ahern Rentals Inc., including its corporate credit rating to B+ from B, reflecting the improved operating performance and credit profile, which Ahern has demonstrated and the current favorable industry conditions.

The agency said it also assigned a B rating and 3 recovery rating to the company's proposed $75 million second-priority senior secured notes due 2013, adding that the offering is identical to the existing $200 million 9.25% second priority senior secured notes due 2013.

The outlook is stable.

S&P said that the ratings on Ahern reflect its position as a relatively small operator in the highly fragmented and competitive equipment rental industry.

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