S&P: Group 1 view positive

Standard & Poor's said it revised its outlook on Group 1 Automotive Inc. to positive from stable.

The BB corporate credit rating on Group 1, along with all related issue-level ratings on the company's debt, remains unchanged.

"There is a one-in-three likelihood we could raise the ratings on Group 1 in the year ahead, if free operating cash flow to total debt remains at 20% or higher, leverage remains in the range of 3x to 3.5x and debt to capital is 50% or less," said S&P credit analyst Nancy Messer in a news release.

The agency said Group 1's credit measures have shown steady improvement since the 2008 to 2009 recession because of improved vehicle and credit markets.

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