S&P boosts Sunstate Equipment outlook to positive

Standard & Poor's said it revised its outlook on Sunstate Equipment Co. LLC to positive from

stable, reflecting the improved operating performance and continued favorable industry conditions.

All ratings were affirmed, including the B corporate credit rating, the agency added.

At the same time, S&P said it assigned a recovery rating of 4 to the company's existing $150 million senior secured notes, noting that the construction equipment rental industry is highly fragmented and competitive.

S&P added that the ratings on Sunstate reflect its position as a relatively small operator in the highly fragmented and competitive construction equipment rental industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.