DBRS Morningstar Discontinues Ratings on Avis Budget Rental Car Funding (AESOP) LLC, Series 2016-2

DBRS, Inc. (DBRS Morningstar) discontinued the outstanding ratings on the following notes issued by Avis Budget Rental Car Funding (AESOP) LLC, Series 2016-2 as a result of repayment:

-- Series 2016-2 Notes, Class A
-- Series 2016-2 Notes, Class B
-- Series 2016-2 Notes, Class C

ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

Notes:
The principal methodology is DBRS Morningstar Master U.S. ABS Surveillance (January 27, 2022), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482/baseline-macroeconomic-scenarios-application-to-credit-ratings.

The rated entity or its related entities did not participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

This rating is endorsed by DBRS Ratings Limited for use in the United Kingdom, and by DBRS Ratings GmbH for use in the European Union, respectively. The following additional regulatory disclosures apply to endorsed ratings:

The last rating action on this transaction took place on March 5, 2021, when DBRS Morningstar confirmed the ratings on all classes.

For further information on DBRS Morningstar historical default rates published by the European Securities and Markets Authority (ESMA) in a central repository, see: http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml. DBRS Morningstar understands further information on DBRS Morningstar historical default rates may be published by the Financial Conduct Authority (FCA) on its webpage: https://www.fca.org.uk/firms/credit-rating-agencies.

Lead Analyst: Arti Mattu, Vice President, U.S. ABS – Global Structured Finance

Rating Committee Chair: Chris D’Onofrio, Managing Director, Head of US ABS – Global Structured Finance Initial Rating Date: May 18, 2016

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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DBRS Morningstar Master U.S. ABS Surveillance (January 27, 2022) https://www.dbrsmorningstar.com/research/391316/dbrs-morningstar-master-us-abs-surveillance