Moody's: Auto retailers unchanged

Moody's Investors Service said it said that the bankruptcy filing by General Motors Corp. has no immediate impact on the ratings and outlooks for the auto retailers rated by Moody's.

The agency said that these include Asbury Automotive Group Inc., AutoNation, Inc., Group 1 Automotive, Inc., Penske Automotive Group, Inc. and Sonic Automotive Group, Inc.

The last rating action for Asbury was the March 25 downgrade of the corporate family and probability of default ratings to B2 from B1 and the assignment of a negative outlook, the agency said.

The last rating action for AutoNation was the Dec. five affirmation of the Ba1 corporate family and probability of default ratings, and a change in the outlook to negative from stable, Moody's noted.

The last rating action for Group 1 was the March 20 downgrade of the corporate family and probability of default ratings to B1 from Ba3 and assignment of a negative outlook, the agency added.

The last rating action for Penske was on March 25, when the company's corporate family rating was downgraded to B2 from B1, the agency noted.

The last rating action for Sonic Automotive was the May 21 downgrade of the corporate family rating to Caa1 from B2, the upgrade of the probability of default rating to Caa1 from Caa3, and assignment of a negative outlook, the agency said.

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