Car and truck renter Avis Budget Group's EBITDA interest coverage has improved, primarily from lower interest expense. We are placing our ratings on Avis Budget, including the 'B+' corporate credit rating, on CreditWatch with Positive implications. Given the proposed €150 million add-on to the 6% notes issuance of indirect subsidiary Avis Budget Finance plc, we are affirming the 'B' issue-level rating on these notes and placing this rating on CreditWatch positive. The recovery rating remains '5'. We will assess the company's credit prospects, based on our expectations of operating performance and continued favorable interest expense trends, to resolve the CreditWatch On March 6, 2014, Standard&Poor's Ratings Services placed its ratings on Parsippany, N.J.-based car and truck renter Avis
