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B+

Review of Toromont Industries Ltd.

MAR 12, 2024 - TIH is an industry leader in specialized equipment rental in Canada. Amid a challenging macro environment in the last few years, the business so far has proven to be resilient. We believe TIH will continue to grow dividends, and allocate capital in a disciplined manner, resulting in meaningful value creation for shareholders. We are maintaining our rating initiated at “B+”.

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