One of the major global car rental companies; Operates in the cyclical and competitive on-airport rental segment; and Operating margins can fluctuate due to changes in pricing and vehicle costs. Substantial capital-spending requirements, although with the ability to reduce spending if industry or economic conditions warrant; Businesses generate relatively stable cash flow even during periods of earnings weakness; and Relatively stable credit metrics through 2018 despite pressure on earnings and increased vehicle costs The stable outlook on Avis Budget Group Inc. reflects that, despite some continued pressure on the company's pricing and the residual value of its vehicles, we expect its credit metrics to remain relatively consistent over the next year. Specifically, we expect the company to maintain EBIT interest
