Avis Budget Car Rental (ABCR) is set to sell a 144A transaction called Centre Point Funding, LLC, Series 2012-2. The fixed-rate deal is worth $150 million and is backed by rental trucks, according to a Moody's Investors Service presale report. Moody's provisionally rated the transaction 'Baa2'.
ABCR, a unit of Avis Budget Group, is the owner and operator of Budget Rent A Car System, and Avis Car Rental Group. Via Budget Rent A Car, ABCR indirectly wholly-owns Centre Point and Budget Truck Rental (BTR). Under an operating lease, BTR is the lessee of vehicles from Centre and Centre's administrator, Moody's said.