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April 24, 2020, 2:51 p.m. EDT

Hertz hires advisers to roll debt: report

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By Claudia Assis

Hertz Global Holdings Inc. /zigman2/quotes/200655672/composite HTZ +2.14% has hired lawyers and investment bankers as advisers as it tries to renegotiate its $17 billion of debt, according to a report Friday on The Wall Street Journal that cited people familiar with the matter. Hertz and the firms involved, which included White & Case LLP and the investment bank Moelis & Co., declined to comment, the newspaper said. Hertz late March said it had access to about $1 billion in liquidity with no "significant" debt maturities due until June 2021. Virus-related shutdowns and all-but-absent travel have hit rental-car companies, but competitor Avis Budget Group Inc. /zigman2/quotes/203618115/composite CAR +5.30% said earlier this week it expected first-quarter sales only modestly below consensus thanks to a busy January and February. Shares of Hertz have fallen 76% in the past 12 months, compared with losses around 3.3% for the S&P 500 index. /zigman2/quotes/210599714/realtime SPX +1.34%

/zigman2/quotes/200655672/composite
US : U.S.: NYSE
$ 1.43
+0.03 +2.14%
Volume: 10.18M
July 14, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$199.21 million
Rev. per Employee
$250,105
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/zigman2/quotes/203618115/composite
US : U.S.: Nasdaq
$ 28.42
+1.43 +5.30%
Volume: 3.22M
July 14, 2020 4:00p
P/E Ratio
9.32
Dividend Yield
N/A
Market Cap
$1.88 billion
Rev. per Employee
$304,133
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/zigman2/quotes/210599714/realtime
US : S&P US
3,197.52
+42.30 +1.34%
Volume: 2.63B
July 14, 2020 5:13p
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