DBRS Confirms Ratings on Avis Budget Rental Car Funding (AESOP) LLC, Series 2010-6 and Series 2015-3

DBRS, Inc. (DBRS) has today confirmed two publicly rated classes of two U.S. structured finance asset-backed securities transactions: Avis Budget Rental Car Funding (AESOP) LLC, Series 2010-6 and Avis Budget Rental Car Funding (AESOP) LLC, Series 2015-3. The classes were confirmed because credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The DBRS ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to origination, underwriting and servicing.
-- Credit quality of the collateral pool and the historical performance of the Avis Budget Rental Car Funding (AESOP) LLC portfolio.

Avis Budget Rental Car Funding (AESOP) LLC is a Master Trust with notes issued ranging from October 2010 through July 2016. The notes are supported by subordination, overcollateralization and a reserve fund. The current credit enhancement for all the notes listed above is higher than the required credit enhancement.

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

The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

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