Moody's reviews Group 1 Auto

Moody's Investors Service said it placed the Ba2 corporate family rating of Group 1 Automotive, Inc. on review for downgrade.

According to Moody's, the review results from Group 1's weakening leverage metrics resulting from the debt-financed acquisitions in 2007, which resulted in a debt-to-EBITDA ratio of 6.2 times at fiscal year-end 2007 versus 4.5 times at 2006.

"The primary focus of the review will be on the level and speed of the reduction in leverage," Moody's senior analyst Charlie O'Shea said in a written statement.

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