S&P ups Sunstate Equipment

Standard & Poor's said it raised its ratings on Sunstate Equipment Co. LLC, including its corporate credit rating to B+ from B, due to the improved operating performance and credit profile Sunstate has demonstrated, as well as currently favorable conditions in the equipment rental industry.

The outlook is stable.

The agency noted that the ratings on Sunstate reflect its position as a relatively small operator in the highly fragmented and competitive construction equipment rental industry.

This profile is characterized by the company's limited diversity, expensive capital-equipment purchases, high leverage and limited financial flexibility, S&P noted.

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