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S&P raises H & E Equipment
Standard & Poor's said it raised its corporate credit rating on H & E Equipment Services Inc. to BB- from B+.
At the same time, S&P said it raised its rating on H & Es $165 million first-lien revolving credit facility due in 2009 to BB+, two notches higher than the corporate credit rating, while the recovery rating on the facility is 1.
The rating on H & E's $200 million second-lien notes due 2012 rose to B+, the agency added.
The outlook is stable.
S&P added the ratings reflect H & E's weak business risk profile as a regional provider of construction equipment rental services and further reflect its aggressive financial risk profile.
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