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Bulletin: Ratings Unaffected By Avis Budget Group Inc.'s Withdrawal Of Bid To Acquire Dollar Thrifty Automotive Group Inc. Sep 11
Standard & Poors, Sep 2011
Abstract
NEW YORK (Standard & Poor's) Sept. 14, 2011--Standard & Poor's Ratings Services said today that its ratings on car renter Dollar Thrifty Automotive Group Inc. (DTAG) remain on CreditWatch with positive implications, where we initially placed them on April 26, 2010, when Hertz Global Holdings Inc. (Hertz) made its initial bid to acquire DTAG. On Sept. 30, 2010, DTAG's shareholders rejected this bid in favor of a higher bid made by competitor Avis Budget Group Inc. (Avis Budget). On May 9, 2011, Hertz returned with a new bid. Subsequent to Hertz's new bid, on June 14, 2011, Avis Budget announced it had reached agreement to acquire U.K.-based car renter Avis Europe PLC and, on Sept. 14, 2011, withdrew its bid...
Companies mentioned in this report are: Dollar Thrifty Automotive Group Inc.,Avis Budget Group Inc.,Hertz Global Holdings Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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