NEW YORK (Standard&Poor's) April 28, 2009--Standard&Poor's Ratings Services today assigned a '6' recovery rating to Avis Budget Car Rental LLC's (CCC+/Developing/--) unsecured notes, indicating expectations of negligible (0%-10%) recovery of principal in the event of a payment default. Avis Budget Car Rental LLC is a subsidiary of Avis Budget Group Inc. (CCC+/Developing/--). The 'CCC-' rating on the notes is two notches lower than the parent company's corporate credit rating, based upon our expectation that the current credit markets will continue to require higher collateralization for secured vehicle facilities, leaving less available for the unsecured lenders. Also, a shift by Avis Budget to a higher percentage of risk vehicles in its fleet, combined with a soft automotive
