Avis Budget Group plans to sell rental car fleet securitization from its Avis Budget Series, according to a Moody’s Investors Service press release.
Moody’s has assigned provisional ratings to the senior/subordinate structure of 2013-2. The class A notes are rated ‘Aaa’ and the class B notes are rated ‘Baa2’. The notes have an approximate 65 month expected final maturity.
Avis was last in the market in February with a $400 million rental car securitization.