AutoNation 'Ba1' corporate family rating affirmed - Moody's |
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Published
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Tue, 20 Nov 2007 06:27
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MUMBAI (Thomson Financial) - Moody's Investors Service said it affirmed AutoNation's 'Ba1' corporate family rating and probability of default rating citing the company's position as US' largest auto retailer, diverse business model and industry-leading opg margins of over 23 pct.Moody's also assigned a 'Ba2' rating to AutoNation's amended credit facility and affirmed the 'Ba2' ratings on the senior unsecured floating and fixed rate notes.The outlook on the rating is stable reflecting Moody's expectation AutoNation's business model will continue to enable the company maintain its industry leading credit metrics with leverage below 4 times.TFN.newsdesk@thomson.comndi/ssaCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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