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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
Cut down on the time you spend pressure washing floors with a Herc Rentals rotary surface cleaner. When attached to a commercial grade pressure washer with 3,800 psi at 4 gpm or higher, you can get jobs done in about 25 percent less time. This workhorse is capable of cleaning any flat surface area. It can be used with hot water and is equipped with strong-bristled brushes for long life and easy glide control. And if you need to get into corners and other hard to reach places, Herc Rentals’ telescoping wand, which extends up to 12-feet, is the perfect accessory.
Features and applications include:
- 20-inch diameter base
- 4,000 PSI Rated
- Heavy duty anodized aluminum handle
- Professional-grade high pressure swivel requires no maintenance
- 180°F maximum temperature
- 3.0 to 5.0-gpm water volume
- Ideal for cleaning decks, patios, sidewalks, driveways, pool decks, parking lots and more
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