DBRS Morningstar Rates Ryder’s $400 million Issuance of Medium-Term Notes at A (low), Stable

DBRS, Inc. (DBRS Morningstar) assigned a rating of A (low) to the $400 million 2.900% Medium-Term Notes due December 1, 2026 (the Notes), issued by Ryder System, Inc. (Ryder or the Company). The trend on the Notes is Stable. The proceeds from the issuance of the Notes will be placed in the general funds of Ryder and are available for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is the Global Methodology for Rating Non-Bank Financial Institutions (September 2019), which can be found on our website under Methodologies.

The primary sources of information used for this rating include Company Documents. DBRS Morningstar considers the information available to it for the purposes of providing this rating was of satisfactory quality.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

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