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Prospect News home > News index > List of issuers G > Headlines for Group 1 Automotive, Inc. > News item |
S&P rates Group 1 Automotive notes B-
Standard & Poor's said it assigned a B- issue rating and 6 recovery rating to Group 1 Automotive Inc.'s proposed $100 million convertible senior notes offering.
Proceeds will be used to redeem all $74.6 million outstanding of its 8¼% senior subordinated notes due 2013 and for general corporate purposes.
The agency said it also assigned a B- issue rating to the company's $182.7 million outstanding 2.25% convertible senior notes due 2036. The recovery rating is 6.
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