Fitch Ratings affirmed the long- and short-term issuer default ratings of Ryder System Inc. at A- and F2, respectively.

The ratings outlook is stable.

The ratings affirmation is supported by Ryder's established market position in fleet management solutions and dedicated transportation solutions and its increasing market share in supply chain solutions as well as the company's strong asset quality, appropriate leverage and solid liquidity, among other things, Fitch said.