Moody's: Avis outlook positive

Moody's Investors Service said it changed the outlook for Avis Budget Car Rental LLC to positive from negative.

The company has corporate family and probability-of-default ratings at B2, senior secured credit facilities at Ba3, senior unsecured at Caa1 and speculative grade liquidity rating at SGL-3.

The change in outlook reflects the considerable improvement that continues to take place in Avis' operating, competitive and funding environment, according to the agency.

For the 12 months through September 2009, the company's debt-to-EBITDA ratio was 3.7x.

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