KAR Auction Services 'B+' Corporate Credit Rating, Issue Ratings Remain Unchanged After Amended Credit Agreement Nov 12
- Language: English
- Published: November 2012
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: Outlook: Stable
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KAR Auction Services Inc.