DBRS boosts, pulls Avis Budget ratings

DBRS said it raised its ratings for Avis Budget Group, Inc. and Avis Budget Car Rental LLC, including their long-term issuer and senior debt ratings to B(high) and B, respectively. The agency also revised their trends to stable from positive.

“The upgrade of the ratings considers the company’s improved credit fundamentals, including solid earnings generation reflecting improved pricing, the rebound in airline passenger travel, as well as robust gains related to used vehicle sales,” DBRS said in a press release.

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