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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
This Herc Rentals electric ½-inch joint and stud right angle drill can easily handle just about any sized hole quickly and easily. Designed for greater operator leverage and control, it reduces tough jobs to simple tasks. With its triple gear reduction controlling the 300/1,200 rpm motor you’ll get the right amount of torque for a variety of jobs.
- Weighs 16 pounds
- 21-inch overall length provides greater control and leverage
- Mechanical-slip clutch in low gear to provide control of reactionary torque
- Adjustable front handle and 2-position side handle provide maximum leverage and control
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