DBRS Assigns Ratings to Avis Budget Rental Car Funding (AESOP) LLC, Series 2008-1 and Series 2010-6

DBRS has today assigned ratings to the Series 2008-1 Notes and Series 2010-6 Notes of Avis Budget Rental Car Funding (AESOP) LLC (the “Issuer”):

–$1,025 million Series 2010-6 Notes rated AA (sf)
–$1,025 million Series 2008-1 Notes rated ‘A’ (high) (sf)

The transaction is being funded under Avis Budget’s Avis Budget Rental Car Funding (AESOP) master trust. Credit enhancement will be provided initially in the form of overcollateralization and amounts held in a cash liquidity account.

The ratings reflect the ability of the transaction to withstand stressed cash flow assumptions and repay investors according to the terms in which they have invested.

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating U.S. Rental Car Securitizations, which can be found on our website under Methodologies.

DBRS's rating definitions and the terms of use of such ratings are available at www.dbrs.com.

For more information on this industry, visit www.dbrs.com or contact us at info@dbrs.com.