Press Release

DBRS Finalizes Ratings of Avis Budget Rental Car Funding (AESOP) LLC, Series 2015-1

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January 29, 2015

DBRS, Inc. (DBRS) has today finalized its provisional ratings of the following notes issued by Avis Budget Rental Car Funding (AESOP) LLC, Series 2015-1:

-- Series 2015-1, Class A Notes rated AAA (sf)
-- Series 2015-1, Class B Notes rated A (high) (sf)
-- Series 2015-1, Class B Notes rated BBB (sf)

In addition, pursuant to the issuance of the Series 2015-1 notes, DBRS confirms the ratings for various series and classes of notes issued by AESOP as noted below.

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.

These ratings are endorsed by DBRS Ratings Limited for use in the European Union.

The full report providing additional analytical detail is available by clicking on the link under Related Research at the right of the screen or by contacting us at info@dbrs.com.

Ratings

Avis Budget Rental Car Funding (AESOP) LLC, Series 2010-3

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2010-3 Notes, Class A	AAA (sf)	--	Confirmed	US E
29-Jan-15	Series 2010-3 Notes, Class B	BBB (high) (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2010-5 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2010-5 Notes, Class B	BBB (high) (sf)	--	Confirmed	US
29-Jan-15	Series 2010-5 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2010-6	A (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2011-3 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2011-3 Notes, Class B	A (low) (sf)	--	Confirmed	US
29-Jan-15	Series 2011-3 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2011-5 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2011-5 Notes, Class B	A (low) (sf)	--	Confirmed	US
29-Jan-15	Series 2011-5 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2012-1 Notes, Class A	AAA (sf)	--	Confirmed	US E
29-Jan-15	Series 2012-1 Notes, Class B	BBB (high) (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2012-2 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2012-2 Notes, Class B	A (low) (sf)	--	Confirmed	US
29-Jan-15	Series 2012-2 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2012-3 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2012-3 Notes, Class B	A (low) (sf)	--	Confirmed	US
29-Jan-15	Series 2012-3 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2013-1 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2013-1 Notes, Class B	A (low) (sf)	--	Confirmed	US
29-Jan-15	Series 2013-1 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2013-2 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2013-2 Notes, Class B	BBB (high) (sf)	--	Confirmed	US
29-Jan-15	Series 2013-2 Notes, Class C	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2014-1, Class A Notes	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2014-1, Class B Notes	BBB (high) (sf)	--	Confirmed	US
29-Jan-15	Series 2014-1, Class C Notes	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2014-2 Notes, Class A	AAA (sf)	--	Confirmed	US
29-Jan-15	Series 2014-2 Notes, Class B	BBB (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
29-Jan-15	Series 2015-1 Notes, Class A	AAA (sf)	--	Provis.-Final	US
29-Jan-15	Series 2015-1 Notes, Class B	A (high) (sf)	--	Provis.-Final	US
29-Jan-15	Series 2015-1 Notes, Class C	BBB (sf)	--	Provis.-Final	US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2010-3

Series 2010-3 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-3 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:USE

Avis Budget Rental Car Funding (AESOP) LLC, Series 2010-5

Series 2010-5 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2010-5 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2010-5 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2010-6

Series 2010-6

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Avis Budget Rental Car Funding (AESOP) LLC, Series 2011-3

Series 2011-3 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2011-3 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2011-3 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2011-5

Series 2011-5 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2011-5 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2011-5 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2012-1

Series 2012-1 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2012-1 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:USE

Avis Budget Rental Car Funding (AESOP) LLC, Series 2012-2

Series 2012-2 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-2 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-2 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2012-3

Series 2012-3 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-3 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-3 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2013-1

Series 2013-1 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-1 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-1 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2013-2

Series 2013-2 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-2 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-2 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2014-1

Series 2014-1, Class A Notes

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2014-1, Class B Notes

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2014-1, Class C Notes

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2014-2

Series 2014-2 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2014-2 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Avis Budget Rental Car Funding (AESOP) LLC, Series 2015-1

Series 2015-1 Notes, Class A

Date Issued:Jan 29, 2015
Rating Action:Provis.-Final
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2015-1 Notes, Class B

Date Issued:Jan 29, 2015
Rating Action:Provis.-Final
Ratings:A (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2015-1 Notes, Class C

Date Issued:Jan 29, 2015
Rating Action:Provis.-Final
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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