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Hertz explores financial strategies after failed EV bet

Investing.com - Hertz Global Holdings (OTC:HTZGQ) Inc (NASDAQ:HTZ) is considering various financing options, according to Bloomberg. This move comes just weeks after the firm's new CEO committed to steering the company back on the right path, following a misguided investment in electric vehicles.

The car rental giant is reportedly working with financial advisors to review its options. At this time, it's uncertain whether Hertz is looking to secure new equity, debt, or a combination of both.

Representatives from Hertz have declined to comment on the matter.

This development follows a recent dip in the company's bonds, which reached a new low after Moody's (NYSE:MCO) Ratings downgraded its outlook from stable to negative. Moody's cited the company's "very weak earnings" and highlighted that any improvement would be slow, leaving little room for error in implementing measures to boost earnings or tackle additional challenges.

Hertz's shares reached an all-time low in April after the company reported a loss nearly three times greater than analysts expectations due to the accelerated sales of electric vehicles.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.