S&P revises Hertz outlook to positive from negative

NEW YORK Oct 27 (Reuters) - Standard & Poor's revised up the outlook on car rental company Hertz Global Holdings Inc.'s debt to positive from negative on Tuesday, citing reduced concerns about refinancing risk.

S&P affirmed its 'B' corporate credit rating and other related ratings on Hertz Global Holdings Inc. and subsidiary Hertz Corp, the credit rating agency said in a statement.

"We are likely to raise the ratings on Hertz within the year if the company successfully addresses its remaining 2010 debt maturities, or if its profitability improves such that the adjusted operating margin approaches the 10 percent area," said Standard & Poor's credit analyst Lisa Jenkins, quoted in the statement.

"Although considered less likely, we could revise the outlook to negative or lower the ratings if the company cannot refinance its 2010 remaining maturities and the expected improvement in profitability does not occur," Jenkins said.

The company still has about $1.5 billion of non-U.S. debt to refinance over the coming year, S&P said. (Reporting by John Parry and Caryn Trokie; Editing by Jan Paschal)