The rating affirmations reflect the firm's position as the largest pure-play fleet leasing and management company in the world, solid asset quality and minimal residual value risk in the portfolio, stable cash flow generation provided by leasing and services and the matched-funding strategy for assets and liabilities. Whether you're a fleet manager, driver or supplier, our fleet management experts have the answers. MD Unrivaled focus and dedication. Element has no unsecured term maturities until CAD172.5 million of 4.25% convertible debentures come due in June 2024. On Aug. 27, 2020, Element announced the planned departure of its current CFO, Vito Culmone. Element has retained an international search firm to identify a successor. In June 2020, the company completed its inaugural unsecured debt issuance, pricing USD400 million of 3.85%, notes due June 2025. Watch these videos to learn how to start using the mobile app! Fitch believes that customer-credit risks remain elevated as the continuation of social-distancing measures in the U.S., resulting from high coronavirus cases, could pressure Element's operating cash flow generation. Subscribe to Element Fleet news and thought leadership today. 21152 Pour un parc de véhicules important ou moyen, les économies d’entretien peuvent atteindre des milliers de dollars par an. Whether your fleet has one asset type or many, we can design a vehicle fleet management program that helps maximize the value of each vehicle or piece of equipment. The proceeds, along with cash on hand, were used to repay the company's CAD567 million of 4.25% convertible notes when they matured on June 30, 2020.
Our expert team negotiates on your behalf throughout the claims and recovery process - saving you money and time. MD We're here to help. However, on May 1, 2020, Element sold the assets of 19th Capital and settled third party debt at a discount, resulting in a pre-tax loss of CAD13.9 million. Une entreprise de services publics d'énergie voulait réduire les coûts et améliorer la sécurité du conducteur.
Fitch Ratings has affirmed Element Fleet Management Corp.'s Long-Term Issuer Default Rating (IDR) at 'BBB+'. Our fleet maintenance program helps fleets boost driver productivity and control repair costs. 3000 In 1H20, Element reported pre-tax earnings as a percentage of average assets of 1.8%, down modestly from 2.1%, yoy. Australia, Auckland, Get a front-row seat to what's happening at Element Fleet, Read the latest company information and announcements, See Element Fleet Management media coverage, Check out what's relevant to our clients and partners, Find out where our teams will be and when, Everything you need to run a smarter, more efficient fleet, Timely topics from the perspective of our experts, Relevant information you can put right into action, Important build-out, start-up, incentive and recall information. Subscribe to Element Fleet news and thought leadership today. Fitch would view further increases in unsecured debt favorably, as it would improve Element's funding flexibility. Annualized impairments as a percentage of finance receivables amounted to 2.0% in 1H20, which was higher than the four-year average of 0.8% from 2016-2019, given growth in the receivables balance over 120 days past due from a number of struggling clients. À Gestion de parc de véhicules Element, nous fournissons des services de gestion de parc de véhicules de classe mondiale qui permettent aux clients d’obtenir un avantage dès aujourd’hui et de conquérir l’avenir en toute confiance. MI The global leader in the fleet management industry, Experience and vision that's shaping the future of fleet, World-class opportunities with a world-class company, Strategically located to provide optimal coverage, Our experts are here to help you find what you need, Company financials, filing documents and more. COVID-19 Information for Clients and Drivers, Innovative technologies and collaborative, customer-focused service, The power to redefine the entire fleet management experience, Helping you identify and implement smarter strategies, A relentless commitment to flawless execution, Flexible programs designed to fit your fleet, The size and scale to support you everywhere you do business, Building strategic relationships that drive value, Comprehensive capabilities that make a positive bottom-line impact, Improve driver productivity and vehicle uptime, Offering levels of support to help you run a more productive fleet, The power to support your fleet strategy around the world, Tools and technologies that empower game-changing results, Helping exceptional companies realize extraordinary results. Element Fleet Management | 19.168 volgers op LinkedIn | Making fleets safer, smarter and more productive. Connect with us today. Découvrez comment ils ont sauvé près de 70%. 77056 ON Connect with us today. Unmatched reach and resources. We're here to help.
At June 30, 2020, the company's gross debt to tangible equity ratio, as calculated by Fitch, was 8.7x, down from 9.0x at YE 2019.