Moody's reviews H&E Equipment for trim

Moody's Investors Service said it placed H&E Equipment Services, Inc.’s ratings under review for downgrade, including the B1 corporate family rating, B1-PD probability of default rating and B2 senior unsecured debt rating. The company's SGL-2 speculative grade liquidity rating is unchanged. The outlook has been changed to under review from stable.

“The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented,” Moody’s said in a press release.

“The equipment and transportation rental industry sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment,” the agency said.

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