Press Release

DBRS Confirms Ratings to Outstanding Avis Budget Rental Car Funding (AESOP) LLC Series

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November 26, 2014

Corresponding with the renewal of Series 2010-6, DBRS, Inc. has today confirmed the ratings on the following series of notes issued by Avis Budget Rental Car Funding (AESOP) LLC:

-- Series 2010-3 Notes, Class A rated AAA (sf)
-- Series 2010-3 Notes, Class B rated BBB (high) (sf)
-- Series 2010-5 Notes, Class A rated AAA (sf)
-- Series 2010-5 Notes, Class B rated BBB (high) (sf)
-- Series 2010-5 Notes, Class C rated BBB (low) (sf)
-- Series 2010-6 rated A (sf)
-- Series 2011-3 Notes, Class A rated AAA (sf)
-- Series 2011-3 Notes, Class B rated A (low) (sf)
-- Series 2011-3 Notes, Class C rated BBB (low) (sf)
-- Series 2011-5 Notes, Class A rated AAA (sf)
-- Series 2011-5 Notes, Class B rated A (low) (sf)
-- Series 2011-5 Notes, Class C rated BBB (low) (sf)
-- Series 2012-1 Notes, Class A rated AAA (sf)
-- Series 2012-1 Notes, Class B rated BBB (high) (sf)
-- Series 2012-2 Notes, Class A rated AAA (sf)
-- Series 2012-2 Notes, Class B rated A (low) (sf)
-- Series 2012-2 Notes, Class C rated BBB (low) (sf)
-- Series 2012-3 Notes, Class A rated AAA (sf)
-- Series 2012-3 Notes, Class B rated A (low) (sf)
-- Series 2012-3 Notes, Class C rated BBB (low) (sf)
-- Series 2013-1 Notes, Class A rated AAA (sf)
-- Series 2013-1 Notes, Class B rated A (low) (sf)
-- Series 2013-1 Notes, Class C rated BBB (low) (sf)
-- Series 2013-2 Notes, Class A rated AAA (sf)
-- Series 2013-2 Notes, Class B rated BBB (high) (sf)
-- Series 2013-2 Notes, Class C rated BBB (low) (sf)
-- Series 2014-1 Notes, Class A rated AAA (sf)
-- Series 2014-1 Notes, Class B rated BBB (high) (sf)
-- Series 2014-1 Notes, Class C rated BBB (low) (sf)
-- Series 2014-2 Notes, Class A rated AAA (sf)
-- Series 2014-2 Notes, Class B rated BBB (sf)

Notes:
The applicable methodology is Rating U.S. Rental Car Securitizations (June 2011), which can be found on our website under Methodologies.

These ratings are endorsed by DBRS Ratings Limited for use in the European Union.

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.