Moody's: Sonic view positive

Moody's Investors Service said it changed the outlook for Sonic Automotive to positive from stable and affirmed all ratings, including the B1 corporate family rating.

"The change in the outlook to positive reflects continuing sequential improvement in Sonic's operating performance, with debt/EBITDA and EBITA/interest improving such that we anticipate the company reaching our upgrade triggers over the next few quarters absent an event," Moody's senior analyst Charlie O'Shea said in a news release.

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