Element Fleet Management received an initial issuer rating of BBB+ with stable outlook from Fitch Ratings.

The company’s investment grade ratings from Kroll Bond Rating Agency and DBRS were also recently affirmed at A- and BBB (high), respectively, each with a stable outlook.

“The solid initial credit rating from Fitch, added to the affirmation of our existing ratings, further highlights our sound business practices and prudent risk management,” said Karen Martin, Element Fleet’s executive vice president and treasurer. “These investment grade ratings reflect the overall strength of our business including a high- quality asset base, strong balance sheet and funding program, and consistently solid financial and credit performance across the cycle.”