Moody's ups H&E Equipment loan, notes to B3

Moody's Investors Service said it upgraded the corporate family rating of H&E Equipment Services, Inc. to B1 from B3, senior secured bank credit facility to Ba3 from B2 and senior secured notes to B1 from B3. The agency also assigned a B3 rating to the company's proposed senior unsecured notes.

The outlook is stable.

Moody's said the upgrade of H&E's corporate family rating reflects the company's strong competitive position in the North American equipment rental industry. The company is benefiting from the robust non-residential construction market, which will be the key driver of its financial performance over the near to medium term.

The rating is constrained by the potential for H&E to pursue further growth initiatives, which could require incremental capital investments. The company's current good liquidity profile is principally based on significant availability projected under its bank credit facility.

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