Just recently Dollar Thrifty announced that its Rental Car Finance Crop. subsidiary has completed a private placement of Rental Car Asset Backed Variable Funding Notes. When the notes are fully funded, they will provide some $450 million in additional financing. The revolving period for these notes will end in October of 2011.

The notes themselves have been rated AA by Dominion Bond Rating Service, Inc. They also have an advance rate of approximately 65 percent, give or take a little. The notes bear interest at a spread of 125 basis points above each purchasing conduit’s weighted average commercial paper rate when drawn.

Scott L. Thompson, the President and Chief Executive Officer, said that during 2010, they completed three fleet financing transactions totaling more than $950 million. This has provided significant financial flexibility in advance of future debt maturities. Overall, they are pleased with their access to the market at competitive interest rates and enhancement levels.

The company did go on to note that its next scheduled fleet debt maturity begins in December of 2010 when $600 million of its Series 2006-1 notes begin amortizing over a six month period ending in May of 2011. On top of this, the company said that it has no significant scheduled corporate debt maturities until June of 2013.

Overall, this is more great news for Dollar Thrifty and its subsidiaries. This is just further prove that, although times are hard, some companies are able to make the most out of it. Dollar Thrifty just so happens to be one of those companies. People should expect to continue to see great things from this car rental company.