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DUFF & PHELPS REAFFIRMS RYDER SYSTEM RATINGS

 CHICAGO, June 30 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed its ratings on Ryder System, Inc. following today's announcement that Ryder will be spinning off its aviation businesses into a new, public company. The reaffirmed senior debt rating is 'A' (single-A) and commercial paper rating is Duff 1.
 In connection with the spin-off, Ryder will be taking a restructuring charge in the second quarter of $169.4 million after-tax to write off goodwill, write down certain facilities, and cover transaction costs. The charge is largely non-cash. At the same time, Ryder's debt levels will be reduced as new debt is issued at the spun- off entity. The net effect on Ryder's leverage will be minimal.
 From an earnings standpoint, Ryder's increased focus on the transportation business should be a net positive going forward.
 -0- 6/30/93
 /CONTACT: Philip M. Zahn, CFA of Duff & Phelps Credit Rating Co., 312-368-3154/
 (R)


CO: Ryder System, Inc. ST: Florida IN: TRN SU: RTG

SH -- NY050 -- 7190 06/30/93 13:08 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
Words:170
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