U.S.-based car and truck renter Avis Budget Group Inc.'s credit metrics have improved, primarily due to continued good operating earnings and lower interest expense. We are raising our corporate credit rating on Avis Budget to 'BB-' from 'B+' and removing the rating from CreditWatch positive. We are also raising our issue-level ratings on Avis Budget's senior secured debt and unsecured debt by one notch and removing them from CreditWatch positive. The recovery ratings remain unchanged. The stable outlook reflects our expectation that the company's credit metrics will remain relatively consistent through 2015, with improved operating performance offsetting incremental debt. On May 12, 2014, Standard&Poor's Ratings Services raised its corporate credit rating on Parsippany, N.J.-based Avis Budget Group Inc.
