Element Fleet Management Corp.: Credit Rating Report

On September 26, 2024, DBRS, Inc. (Morningstar DBRS) upgraded the credit ratings of EFN, including the Company's Long-Term Issuer Rating and Long-Term Senior Debt Rating to A (low) from BBB (high), and its Short-Term Issuer Rating to R-1 (low) from R-2 (high). At the same time, the trend on all credit ratings were revised to Stable from Positive. The Intrinsic Assessment (IA) for the Company is A (low), while its Support Assessment is SA3. As a result, EFN's final credit ratings are equalized with its IA.