Research Update: KAR Holdings Inc. Outlook Revised To Stable From Positive; Ratings Affirmed Jul 08

  • ID: 1869543
  • July 2008
  • Standard & Poors
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  • KAR Auction Services Inc.
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On July 1, 2008, Standard & Poor's Ratings Services revised its outlook on KAR Holdings Inc. to stable from positive. At the same time, we affirmed the 'B-' long-term corporate credit rating and all debt issue ratings on KAR. The outlook change reflects our view that the company's performance over the next year, including the effect of weaker economic conditions in North America, will limit improvement in KAR's earnings and cash flow expansion in the year ahead. Thus, we no longer expect the company's credit measures to improve sufficiently in 2008 and into 2009 to warrant a potential upgrade. However, we do expect the company's financial performance and resulting credit measures to remain adequate for the existing rating. The ratings...

Companies mentioned in this report are: KAR Auction Services Inc.
Action: Affirmed
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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KAR Auction Services Inc.

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