  We present local tunneling spectroscopy experiments in the superconducting
and ferromagnetic phases of the reentrant superconductor ErRh$_4$B$_{4}$. The
tunneling conductance curves jump from showing normal to superconducting
features within a few mK close to the ferromagnetic transition temperature,
with a clear hysteretic behavior. Within the ferromagnetic phase, we do not
detect any superconducting correlations. Within the superconducting phase we
find a peculiar V-shaped density of states at low energies, which is produced
by the magnetically modulated phase that coexists with superconductivity just
before ferromagnetism sets in.
