Fitch affirms Avis

Fitch Ratings said it removed from Rating Watch evolving and subsequently affirmed Avis Budget Group Inc.'s long-term issuer default rating at B+, along with Avis Budget Car Rental, LLC's long-term issuer default rating at B+, senior secured debt rating at BB- with a recovery rating of RR3 and senior unsecured debt at B- with a recovery rating of RR6.

The outlook is stable

The affirmation recognizes that the company's operating trends have stabilized and downward pressure on EBITDA has eased, Fitch said.

Concerns regarding funding, liquidity and refinancing risks have lessened over the past year, the agency added.

The company has extended debt maturities and has sufficient funding capacity to meet fleeting requirements over the next couple of years, Fitch added.

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