Avis Budget Group Announces Amendment and Extension of Its Senior Credit Agreement
Avis Budget Group, Inc. (CAR)
Last avis budget group, inc. earnings: 2/19 04:00 pm
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Source: GlobeNewswire
PARSIPPANY, N.J., Feb. 14, 2018 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ:CAR) announced today that it has extended the term of its $1.8 billion senior revolving credit facility for an additional two years to 2023. Also, the Company extended the maturity of its $1.1 billion term loan for an additional three years to 2025, with no change in interest rate charged. The financial covenant contained in its overall senior credit agreement was changed to a first lien leverage ratio not to exceed 2.5 times of Consolidated EBITDA, as defined in the credit agreement. “This extension and amendment of our credit agreement is part of our continued corporate strategy to seek opportunities in the market to improve our liquidity profile,” said Martyn Smith, Avis Budget Group Interim Chief Financial Officer. “Looking ahead, the Company now has no corporate debt maturities until 2022 and the majority of this debt is fixed at very attractive interest rates.” About Avis Budget GroupAvis Bu
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News
- Avis Budget Group, Inc. (NASDAQ: CAR) had its price target lowered by analysts at Morgan Stanley from $190.00 to $187.00. They now have an "overweight" rating on the stock.MarketBeat
- Avis Budget Group (CAR) Gains But Lags Market: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Avis Budget Group, Inc. (NASDAQ: CAR) was upgraded by analysts at The Goldman Sachs Group, Inc. from a "sell" rating to a "neutral" rating. They now have a $130.00 price target on the stock, up previously from $118.00.MarketBeat
- Avis Budget Group (CAR) Stock Declines While Market Improves: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Avis Budget Group's (NASDAQ:CAR) 30% CAGR outpaced the company's earnings growth over the same five-year period [Yahoo! Finance]Yahoo! Finance
CAR
Earnings
- 2/12/24 - Beat
CAR
Sec Filings
- 4/3/24 - Form DEFA14A
- 4/3/24 - Form DEF
- 3/18/24 - Form 8-K
- CAR's page on the SEC website