Hertz Corp. is tapping the securitization market for $750 million to help finance a costly upgrade of its rental fleet.

The company is more dependent than ever on asset-backed financing because its corporate credit ratings have been downgraded to single-B, making high yield bond financing prohibitively expensive.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.