DBRS Confirms Three Avis Budget Rental Car Funding (AESOP) LLC Transactions

DBRS, Inc. (DBRS) confirmed seven public ratings from three U.S. asset-backed securities transactions issued by Avis Budget Rental Car Funding (AESOP) LLC. All classes were confirmed at their current respective rating levels. Performance trends relating to the confirmed securities were such that credit enhancement levels were sufficient to cover DBRS’s expected losses at their respective rating levels.

The 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.
-- The credit quality of the collateral pool and historical performance.

Notes:
The principal methodology is DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com 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 the attached appendix for additional information regarding the 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.