S&P alters Ken Garff view to negative

S&P said it changed the outlook on Ken Garff Automotive LLC to negative from stable.

“The coronavirus pandemic has disrupted Ken Garff's operations in most of its end markets, which will weaken its revenue and cash flow. The company's substantial cost-reduction efforts to resize its business to minimal activity levels will not be sufficient to offset the significant decline in its volumes and the potentially delayed recovery in traffic at its dealerships,” said S&P in a press release.

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