S&P: Amerco outlook negative

Standard & Poor's said it revised its outlook on Amerco to negative from stable and affirmed its ratings, including the BB long-term corporate credit rating.

The agency said the outlook revision reflects expected further weakening in earnings and cash flow due to pricing pressure in the moving and storage segment as well as reduced customer demand given the slowing U.S economy.

The ratings on Amerco reflect the company's aggressive financial profile and participation in a competitive and capital intensive industry, partially offset by its position as the largest consumer truck rental company in North America and its major position in self-storage, S&P said.

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