Dollar Thrifty Continues Difficult Operating Trends

Dollar Thrifty Automotive Group, Inc. recently reported that results in the third quarter continue to be affected by challenges in the areas of revenue per day and vehicle depreciation costs.

Results are also expected to be affected by the bankruptcy of one of the company's tour operators. In light of performance to date, the Dollar Thrifty is seeking an amendment to its senior secured credit facility as it relates to the company's permitted leverage, failing which the company expects to use a portion of its excess liquidity to repay a portion of its term debt under the facility to maintain covenant compliance.

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