DBRS shifts Avis trend to stable

DBRS said it revised the trend to stable from negative and confirmed the ratings of Avis Budget Group, Inc. and its related subsidiary Avis Budget Car Rental, LLC, including the company’s B long-term issuer rating.

In confirming the ratings and revising the trend to stable, DBRS Morningstar recognizes Avis Budget’s improved operating performance since the trough of the coronavirus disease (Covid-19) pandemic reflecting the company’s rationalized rental fleet, which better matches demand and the strong used vehicle markets,” the agency said in a press release.

DBRS also noted that the rebound in the U.S. economy has helped lift leisure travel volumes resulting in sound fleet utilization.

“The ratings confirmation and revision of the trend to stable also consider the company’s sound rental car franchise, underpinned by its large U.S. on-airport and off-airport businesses and capable senior management team,” DBRS said.

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