News Summary (CAR, DTG, HTZ, XXV, VXX)

S&P, Moody's and Fitch have urged bond issuers to refrain from using their credit ratings in the documentation during the sales of new bonds. The rating providers want to first get the clear understanding of the legal exposure created by the new financial overhaul law, signed by President Obama today. According to Zero Hedge, this can be the beginning of the "end of the rating agency paradigm." Avis CAR may make a new bid for Dollar Thrifty DTG by tomorrow. According to a report, the new bid will compete against the bid placed by Hertz HTZ. Merger terms from a offer placed in April values DTG $41.00 per share. Investors wanting to go short on volatility can now invest in the recently launched Barclays ETN+ Inverse S&P 500 VIX Short-Term Futures ETN XXV. So far, during the recent market turmoil, investors were using the iPath S&P 500 VIX Short Term Futures ETN VXX, which has become one of the most heavily traded vehicles. The number of shares traded daily on an average is 22.5 million shares, although the ETN has only $1.4 billion of assets under management. Read more from Benzinga's Markets.