Hertz Bonds Fall After 13% Revenue Drop, Losses in Q1

Hertz Global Holding Inc.’s bond prices fell sharply on Tuesday in the high-yield market after the company reported a larger-than-expected loss in the first quarter.

• Hertz’s 4.625% bonds due 2026 fell 4.31 cents on the dollar to 86 cents, as of 9:15am in New York, according to Trace
• Revenue fell 13% in the first quarter, contributing to an adjusted loss of $1.12 per share, the company said in a statement Monday
• Read More: Hertz Shares Slump After 1Q Adjusted Earnings Miss Estimates

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Rene Ismail in New York at rismail31@bloomberg.net

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