Moody's rates Europcar notes Caa1

Moody's Investors Service said it assigned a provisional Caa1 rating to Europcar Bond Funding Ltd.'s new €335 million senior subordinated secured notes due May 2017.

Concurrently, Moody's affirmed Europcar's corporate family rating at B3.

The outlook remains stable.

Moody's said the new notes are to redeem the senior subordinated secured floating-rate notes due 2013.

Upon redemption of the floaters, Europcar Groupe SA will assume the notes.

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