4Way Equipment Rentals is a big part of CERC39s equipment rental holdings

CERC Agrees with Senior Lenders to Reduce Balance Sheet Leverage

Dec. 20, 2016

Canadian Equipment Rentals Corp. has agreed to continue to reduce the company’s balance sheet leverage as part of a Fifth Amending Agreement with its senior lenders.

Michael Roth

Canadian Equipment Rentals Corp. has agreed to continue to reduce the company’s balance sheet leverage as part of a Fifth Amending Agreement with its senior lenders. According to the pact, which expires Feb. 28, 2017, CERC management must continue to execute on the commitment to reduce balance sheet leverage.

The recently announced sale of CERC’s Waste Management division, which closed Dec. 1, was a material step forward in this process, CERC said. Management continues to sell down underutilized equipment and explore alternative sources of capital.

CERC also said it is seeing strong demand for oilfield rental equipment going into the winter drilling season, a positive sign for the energy service division.

CERC is No. 74 on the RER 100.