Largest on-airport car rental company in the U.S. through its combined Avis and Budget brands Access to fleet financings through asset-backed securitizations Significant portion of assets secured through asset-backed financings, limiting financial flexibility Limited car rental operations outside of the U.S. Significantly smaller market position than its major competitor in consumer truck rentals The ratings of Avis Budget Group Inc. and its primary operating subsidiary, Avis Budget Car Rental LLC, reflect limited operations outside the U.S., somewhat limited financial flexibility due to a significant portion of its assets secured through asset-backed financings, and a significantly smaller market position in consumer truck rentals than its major competitor. However, through its combined Avis and Budget car rental brands, the company is the
