S&P puts Amerco on positive watch

Standard & Poor's said it placed its ratings on Amerco, including the B+ corporate credit rating, on CreditWatch with positive implications.

The CreditWatch placement is based on the company's improved operating and financial performance, the agency said, noting that the company's margins have benefited from a declining level of business at its previously unprofitable insurance operations and good cost controls.

S&P added that ratings on Amerco reflect the company's aggressive financial profile, which has improved somewhat since 2004.

Ratings also incorporate the company's position as the largest consumer truck rental company and as one of the largest private storage providers in North America, S&P said.

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