Reported 11 months ago
Hertz Global Holdings Inc. is exploring options to raise financing after its new CEO pledged to get the company back on track following a failed electric vehicle investment. The car rental company is working with financial advisers to consider new equity, debt, or a mix of both options. Moody's Ratings recently downgraded Hertz's outlook to negative due to weak earnings, with the company facing challenges from its Tesla fleet and a loss reported in April. Hertz has been selling cars to boost cash flow after struggling with high operating costs and vehicle depreciation.
Source: YAHOO