NEW YORK (Standard&Poor's) May 27, 2009--Standard&Poor's Ratings Services said today that its ratings on Avis Budget Group Inc. (CCC+/Developing/--) are not affected by the car rental company's announcement yesterday that it has obtained commitments for approximately $325 million of operating lease financing for vehicles that it plans to add to its U.S. car rental fleet over the next four months. The company faces close to $4 billion in debt maturities through 2010. While the financing aids the company's access to capital, it still accounts for a relatively small portion of its capital needs. Avis Budget has indicated it intends to access the federal government-guaranteed Term Asset Backed Securities Loan Facility (TALF) to refinance a portion of
