On Feb. 12, 2007, Standard&Poor's Ratings Services assigned its 'BB+' corporate credit rating to Avis Budget Group Inc., parent of Avis Budget Car Rental LLC (BB+/Stable/--). The rating assignment follows Avis Budget Group's Feb. 9, 2007, announcement that it will now guarantee Avis Budget Car Rental's unsecured notes. The ratings on both entities are the same since Avis Budget Car Rental is the primary operating subsidiary of Avis Budget Group. The outlook is stable. Ratings on Avis Budget Group Inc. and its primary operating subsidiary, Avis Budget Car Rental LLC, reflect the strong position of the Avis and Budget car rental brands within the North American on-airport car rental market and access to fleet financings through asset-backed securitizations.
