Localiza Rent a Car S.A.: Update following upgrade to Ba1
Our credit view of this issuer reflects its robust profitability and strong market share.Localiza Rent A Car is engaged in Car Rental, Fleet Rental and Franchising. Car Rental: Co. rents cars through its branches operating inside and outside airports. The Fleet Rental Division, through its subsidiary Total Fleet, rents cars under long-term agreements (generally 24 or 36 months) to legal entities. At the end of the terms of the rental agreements entered into with customers, Total Fleet sells part of the cars used in the fleet rental directly to end consumers and a part to car dealers. The Franchising Division is responsible for managing and granting the right to use Co.'s brand. The franchising business is managed by Localiza Franchising Brasil S.A. in Brazil and Co. abroad.
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