Fitch Plans to Withdraw Ratings of Avis Budget Group, Inc.

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings plans to withdraw the ratings on Avis Budget Group, Inc. on or about Sept. 18, 2015, for commercial reasons.

Fitch currently rates Avis Budget Group, Inc. as follows:

Avis Budget Group, Inc.

--Long-term Issuer Default Rating (IDR) at 'BB-'.

Avis Budget Car Rental, LLC

--Long-term IDR at 'BB-';

--Senior secured term loan at 'BBB-';

--Revolving credit facility at 'BBB-';

--Senior unsecured debt at 'BB-'.

Avis Budget Finance PLC

--Long-term IDR at 'BB-';

--Senior unsecured debt at 'BB-'.

Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market on the withdrawal. Ratings are subject to analytical review and change up to the time Fitch withdraws the ratings.

Fitch's last rating action for the above referenced entities was on Oct. 14, 2014. The ratings were affirmed with a Stable Outlook.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150818006599/en/

Fitch Ratings
Daniel Whalen, +1-312-368-2067
Senior Director
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL 60602
or
Media Relations
Alyssa Castelli, New York, +1-212-908-0540
[email protected]

Source: Fitch Ratings

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