Moody’s affirms Group 1 Automotive

Moody's Investors Service said it affirmed all ratings of Group 1 Automotive, Inc., including the Ba1 corporate family rating, Ba1-PD probability of default rating and Ba2 senior unsecured rating.

The company's speculative grade liquidity rating of SGL-2 was also affirmed.

The outlook is stable.

“Group 1 has demonstrated that it can grow sensibly and profitably both in the U.S. and abroad, and has also extended its reach into the collision subsegment, which we view as a logical step," Moody's vice president Charlie O'Shea said in a news release.

“It continues to heighten its focus on the used vehicle segment, which provides greater overall profitability than new, and also offers downside protection in a softening new vehicle sales environment.”

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