DBRS: Avis Budget earnings ‘solid,’ trend positive

DBRS, Inc. said it views Avis Budget Group, Inc.’s 4Q14 earnings as solid, demonstrating the benefits of the company’s sound pricing discipline, actions to drive volumes to higher margin channels and expanding international footprint.

The agency said that its issuer rating for Avis Budget is BB (low) with a positive trend.

For the quarter, on a U.S. GAAP basis, Avis Budget generated net income of $23 million compared to a net loss of $28 million a year ago. Improved bottom line results reflect good revenue growth, reduced restructuring expenses and lower operating costs as it continues to advance efficiency initiatives in Europe, DBRS noted.

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