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Dear Colleagues, Customers and Friends,
We have received a few inquiries regarding Hertz Global Holdings’ recent announcement about its financial outlook. We want to make clear that we are two separate and independent public companies.
Since the spin-off in 2016, Herc Holdings Inc., an equipment rental business operating through its Herc Rentals Inc. subsidiary, has been operationally and administratively independent of Hertz. Our companies are governed by different boards of directors and we each operate in different sectors and serve different customers.
Herc Holdings Inc. recently reported first quarter results ending March 31, 2020 and provided an update regarding the impact of the COVID-19 pandemic on operations. Our financial position and balance sheet are strong, and our debt is rated B1 by Moody’s and B+ by S&P. We have ample liquidity of $1.1 billion, and our net debt totaled $2.1 billion with a net leverage ratio of 2.7x.
We are well-financed, we have ample liquidity, and we have the fleet available. We are committed to serving the equipment needs of our customers and our communities safely, efficiently and effectively.
Should you have any questions about our services or equipment for rent, please contact your customer sales representative or call 800-654-6659.
President and Chief Executive Officer
Merge some metal with Herc Rentals battery-powered crimper. This tool is ideal for conjoining two ends of cable by applying 12 tons of force. Featuring an Intelligent Crimping System technology, this cordless crimper includes a pressure sensor that monitors the crimping force and provides operators with a visual and audible alert if the force is below specifications.
Features and applications include:
- One trigger controls all tool functions - Crimping head rotates 350 degrees
- State-of-the-art 18V lithium ion battery provides 70% more cycles per charge and faster cycle times
- Automatic Retraction Stop retracts ram to get ready for the next cycle, saving time and energy
- LED light illuminates dark work areas and provides operator with battery charge and tool maintenance status
- Two-stage hydraulic system provides fast advance and power speeds, saving time
- Forward handle position improves tool balance while molded grip makes work comfortable
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