S&P rates Avis Budget Car Rental BB+

Standard & Poor's said it assigned its BB+ rating to Avis Budget Car Rental LLC.

The company's outstanding ratings were affirmed, the agency said.

Avis Budget's ratings reflect the strong position of its Avis and Budget car rental brands within the North American on-airport car rental market and access to fleet financings through asset-backed securitizations, the agency noted.

However, the company's global car rental operations are more limited than those of its major competitor Hertz Corp. (BB-/Watch negative) and its consumer truck rental operation is one-half the size of competitor U-Haul International, S&P said.

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