NEW YORK (Standard&Poor's) Nov. 20, 2013--Standard&Poor's Ratings Services today assigned its 'B' issue-level rating to Avis Budget Group Inc.'s (Avis Budget's) $250 million floating-rate notes due 2017. The recovery rating is '5', indicating our expectation that lenders would receive modest (10%-30%) recovery or principal in the event of a payment default. Avis Budget Car Rental LLC and Avis Budget Finance Inc., both indirect subsidiaries of Parsippany, N.J.-based car and truck renter Avis Budget, are issuing the notes. The company will use the proceeds to redeem the floating-rate notes due 2014 and the term loan due 2016, and for general corporate purposes. The ratings on Avis Budget reflect the company's aggressive financial profile, the price competitive and
