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Prospect News home > News index > List of issuers E > Headlines for eHi Car Services Ltd. > News item |
Fitch revises eHi outlook to negative
Fitch Ratings said it revised eHi Car Services Ltd.'s outlook to negative from stable and affirmed its long-term issuer default rating at B+. The agency also affirmed the senior unsecured rating at B+ with an RR4 recovery rating.
“The outlook revision reflects the uncertainty in the operating impact and subsequent recovery from Covid-19 control measures in China, as such measures could continue to affect rental car demand this year and constrain its return on capital. In addition, prolonged collection of accounts receivable on used-vehicle sales could affect the recovery of its fleet size. Fitch expects these factors to reduce eHi's leverage headroom in the near term,” the agency said in a press release.
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