S&P: Vanguard Car Rental on positive watch

Standard & Poor's said it placed its ratings on Vanguard Car Rental USA Holdings Inc., including the B+ corporate credit rating, on CreditWatch with positive implications.

The rating action is based on Enterprise Rent-A-Car Co.'s (A-/Watch negative/A-2) announcement that it has agreed to acquire Vanguard Car Rental USA Holdings Inc., parent of the Alamo and National car rental brands, the agency said.

Although Enterprise has not yet indicated how it will operate Vanguard's and its own brands, S&P said that the acquisition will strengthen Vanguard's financial profile.

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