Budget Group said the company's lender group has approved, effective February 9, 2001, an amendment to its revolving credit facility maturing in 2003, which restores availability up to $550 million.

Moreover, Budget Group will now exercise its option causing a deferral of dividend distributions on its trust preferred securities (High Tides (SM). This deferral is limited to the High Tides and doesn't affect the company's other debt obligations. Budget said that approval of the amendment is the first of a multi-step fleet financing plan under way to fund the needs of the company in 2001 and beyond.