NEW YORK (Standard&Poor's) March 4, 2015--Standard&Poor's Ratings Services today assigned its 'B+' issue-level rating to Parsippany, N.J.-based car and truck renter Avis Budget Group Inc.'s (Avis Budget's) $350 million senior notes due 2025. The recovery rating is '5', indicating our expectation that lenders would receive modest recovery (at the high end of the 10%-30% range) of principal in the event of a payment default. Avis Budget Car Rental LLC and Avis Budget Finance Inc. are issuing the notes. Both companies are indirect subsidiaries of Avis Budget, and will use the proceeds for general corporate purposes, including the redemption of senior notes due 2020, and to finance a portion of the proposed acquisition of Maggiore Group, an
