AutoNation, Inc. http://www.alacrastore.com/company-snapshot/AutoNation_Inc-1014087 Friday, November 21, 2008 10:02:15 PM 1014087 AutoNation, Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/682027spcred/682027normThe latest News from S&Pglobalstructured11/7/2008 3:27:06 PM100News682027United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveNewsNEW YORK (Standard&Poor's) Nov. 7, 2008--Standard&Poor's Ratings Services today said its ratings on AutoNation Inc., including the 'BBB-' corporate credit rating, remain on CreditWatch with negative implications following the company's report of very weak third-quarter financial results. The ratings were placed on CreditWatch on Sept. 19, reflecting our concern that deteriorating economic conditions could pressure already weak credit measures well into 2009. "AutoNation reported significant EBITDA and revenue declines of 33% and 21%, respectively, in the third quarter, year over year," said Standard&Poor's credit analyst Nancy Messer, "because of continued economic weakness, tight credit markets, and plunging consumer confidence." The company also reported it has taken a $1.5 billion after-tax non-cash goodwill and franchiseUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANNEWSGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/682028spcred/682028normThe latest Research Update from S&Pglobalstructured11/7/2008 3:27:06 PM175Research Update682028United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveResearch UpdateOn Nov. 7, 2008, Standard&Poor's Ratings Services said its ratings on AutoNation Inc., including the 'BBB-' corporate credit rating, remain on CreditWatch with negative implications following the company's report of very weak third-quarter financial results. The ratings were placed on CreditWatch on Sept. 19, reflecting our concern that deteriorating economic conditions could pressure already weak credit measures well into 2009. AutoNation reported significant EBITDA and revenue declines of 33% and 21%, respectively, in the third quarter, year over year, because of continued economic weakness, tight credit markets, and plunging consumer confidence. The company also reported it has taken a $1.5 billion after-tax non-cash goodwill and franchise impairment charge, which was not unexpected. Despite the charge, the company expectsUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANRESUPDGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/B2001039ccbn/B2001039norm...Co. reported net loss from continuing operations of $#.#b or $#.## per share and adjusted net income from continuing operations of $##m or $#.## per share in #Q##. ... 11/6/2008 4:07:00 PMAutoNation54.0000EditedAutoNation Q3 2008 Earnings Conference Call SummaryAN11:00am ETBriefB2001039Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T2001039ccbn/T2001039norm...Welcome to our AutoNation's third quarter earnings conference call. At this time, all participants are in a listen only mode. After the presentation, we will conduct a question and answer session. (OPERATOR INSTRUCTIONS) Today's conference is being recorded.If you have any objections, you may disconnect at this time. Now, I will turn the call over to AutoNation. ... 11/6/2008 12:07:00 PMAutoNation54.0000FinalAutoNation Q3 2008 Earnings Conference Call TranscriptAN11:00am ETTranscriptT2001039Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/newstex/PRN-0005-29297842newstex/PRN-0005-29297842xml FORT LAUDERDALE, Fla., Nov. #, #### (PRNewswire-FirstCall delivered by Newstex) -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, today reported a #### third quarter net loss from continuing operations of $#.##...040000000400700004007005040160000401601804016003040060000400600611/6/2008 8:25:30 AM1800000018004000190000001900100019001009PR Newswire USPRN-0005-29297842AUTONATION INCMICHAEL J JACKSONANNewsNewstexhttp://www.alacrastore.com/storecontent/newstex/PRN-0005-28786507newstex/PRN-0005-28786507xml FORT LAUDERDALE, Fla., Oct. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, announced today that it will release its financial results for the #rd Quarter ended...0400000004016000040160480401601804016001040070000400700510/17/2008 4:17:05 PM180000001800400018008000190000001900100019001009PR Newswire USPRN-0005-28786507AUTONATION INCMICHAEL E MAROONEMICHAEL J JACKSONMichael J ShortANNewsNewstexhttp://www.alacrastore.com/storecontent/bir/221210bir/221210normAutoNation Inc.Royal Jeep Eagle Chrysler Plymouth Inc.Shamrock Ford Inc.Vista ToyotaTasha Inc.Jerry Gleason Chevrolet Inc.United StatesRetail: Automobile dealerships.5511554144111044711017IMAN10/7/2008 6:19:15 AM221210Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/672416spcred/672416normThe latest Research Update from S&Pglobalstructured9/19/2008 3:28:29 PM175Research Update672416United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveResearch UpdateOn Sept. 19, 2008, Standard&Poor's Ratings Services placed its ratings on Fort Lauderdale, Fla.-based AutoNation Inc., including the 'BBB-' corporate credit rating and its other debt ratings, on CreditWatch with negative implications. The CreditWatch action reflects deteriorating macroeconomic conditions that could pressure already weak credit measures well into 2009. Even though AutoNation is only partially dependent on new-vehicle sales, the U.S. economic recession and tight credit markets have the potential to reduce the company's other sources of profit--used vehicles, parts and service, and finance and insurance revenues. Furthermore, there is increased uncertainty about the downturn's length and depth. Sales of both new and used light vehicles declined at a higher rate in the second quarter than in theUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANRESUPDGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/672415spcred/672415normThe latest News from S&Pglobalstructured9/19/2008 3:28:29 PM100News672415United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveNewsNEW YORK (Standard&Poor's) Sept. 19, 2008--Standard&Poor's Ratings Services today placed its ratings on Fort Lauderdale, Fla.-based AutoNation Inc., including the 'BBB-' corporate credit rating and its other debt ratings, on CreditWatch with negative implications. "The CreditWatch action reflects deteriorating macroeconomic conditions that could pressure already weak credit measures well into 2009," said Standard&Poor's credit analyst Nancy Messer. Even though AutoNation is only partially dependent on new-vehicle sales, the U.S. economic recession and tight credit markets have the potential to reduce the company's other sources of profit--used vehicles, parts and service, and finance and insurance revenues. Furthermore, there is increased uncertainty about the downturn's length and depth. AutoNation is the largest dealership group in theUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANNEWSGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1969066ccbn/T1969066norm...Mr. Mike Jackson, we're very pleased to have you here with us. Mike is the CEO of AutoNation, the largest public dealership group, and he has been the CEO since September ####. Previously he was also the CEO of Mercedes-Benz USA. And Mike has long been an advocate for changes in the US energy and tax policy that would create incentives for Americans to buy more smaller cars. And it looks like that finally going to happen. Mike, again, welcome to the summate. I'm going to start off. If we could just briefly introduce ourselves. You know me. Nick? ... 9/15/2008 1:05:00 PMAutoNation54.0000FinalAutoNation with Mike Jackson at Thomson Reuters Autos Summit TranscriptAN10:00am ETTranscriptT1969066Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/B1867052ccbn/B1867052norm...AN reported #Q## net income from continuing operations of $##m or $#.## per share. #Q## adjusted EPS from continuing operations was $#.##. ... 7/24/2008 11:10:00 PMAutoNation54.0000EditedAutoNation Q2 2008 Earnings Conference Call SummaryAN10:00am ETBriefB1867052Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1867052ccbn/T1867052norm...Welcome to AutoNation's second quarter earnings conference call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. (OPERATOR INSTRUCTIONS). Today's conference is being recorded. If you have any objections, you may disconnect at this time. Now I will turn the call over to AutoNation. ... 7/24/2008 12:08:00 PMAutoNation54.0000FinalAutoNation Q2 2008 Earnings Conference Call TranscriptAN10:00am ETTranscriptT1867052Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/654943spcred/654943normThe latest Summary from S&Pglobalstructured6/19/2008 1:19:31 PM175Summary654943United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveSummaryThe ratings on Fort Lauderdale, Fla.-based AutoNation Inc. reflect the company's satisfactory business profile as the largest dealership group in the $1 trillion U.S. automotive retail industry, which is highly fragmented, cyclical, and competitive. The ratings also reflect the company's efficient cost structure and moderate financial profile with fair profitability and good cash flow protection. Total balance sheet debt was $1.7 billion at March 31, 2008. Although AutoNation is publicly held, a single shareholder controls about 40% of the shares. With 321 new-vehicle franchises in 15 states, AutoNation is more than twice the size of its next-largest competitor (Penske Automotive Group Inc.). AutoNation has positioned its dealerships heavily in the southern and western U.S. to benefit from the above-average populationUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANSUMMARYGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/B1820478ccbn/B1820478norm...Results reflected a decline in vehicle retail sales especially in California, Florida, Nevada, Arizona. ... 4/24/2008 3:07:00 PMAutoNation54.0000EditedQ1 2008 AutoNation Earnings Conference Call SummaryAN11:00am ETBriefB1820478Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1820478ccbn/T1820478norm...Welcome to AutoNation's first-quarter earnings conference call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. (OPERATOR INSTRUCTIONS). Today's conference is being recorded. If you have any objections, you may disconnect at this time. Now I will turn the call over to AutoNation. ... 4/24/2008 3:07:00 PMAutoNation54.0000FinalQ1 2008 AutoNation Earnings Conference Call TranscriptAN11:00am ETTranscriptT1820478Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/635748spcred/635748normThe latest Full Report from S&P3/14/2008 3:52:35 PMFull Report400globalstructured635748United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveFull ReportLeading positions in key markets; Economies-of-scale advantages; Diverse product portfolio and revenue base; and Flexible cost structure. Fragmented and competitive industry; Cyclical demand for new vehicles; Dependence on large, powerful vehicle manufacturers; and Reliance on declining sales from domestic manufacturers. The ratings on Fort Lauderdale, Fla.-based AutoNation Inc. reflect the company's satisfactory business profile as the largest dealership group in the highly fragmented, cyclical, and competitive $1 trillion U.S. automotive retail industry. The ratings also reflect the company's efficient cost structure and moderate financial profile with fair profitability and good cash flow protection. With 322 new-vehicle franchises in 15 states, AutoNation is more than twice the size of its next-largest competitor. AutoNation has heavily positioned its dealerships in the southernUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANFULLGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/635749spcred/635749normThe latest Summary from S&P3/14/2008 3:52:35 PMSummary175globalstructured635749United StatesAutomotive RetailUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesAutomotiveSummaryThe ratings on Fort Lauderdale, Fla.-based AutoNation Inc. reflect the company's satisfactory business profile as the largest dealership group in the highly fragmented, cyclical, and competitive $1 trillion U.S. automotive retail industry. The ratings also reflect the company's efficient cost structure and moderate financial profile with fair profitability and good cash flow protection. With 322 new-vehicle franchises in 15 states, AutoNation is more than twice the size of its next-largest competitor. AutoNation has heavily positioned its dealerships in the southern and western U.S. to benefit from the above-average population growth in those regions. However, this concentration of sales exposes the company to region-specific economic events and, most recently, to the national housing downturn that has been particularly serious in CaliforniaUSA05329W05329R25504050 255040 2550 25AutoNation Inc.352527USAANSUMMARYGLOBISSSTRUCCORPABSAutomotiveCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/B1738691ccbn/B1738691normQ# #### AutoNation Earnings Conference Call2/7/2008 1:06:00 PMAutoNation54.0000EditedQ4 2007 AutoNation Earnings Conference Call SummaryAN11:00am ETBriefB1738691Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1738691ccbn/T1738691normQ# #### AutoNation Earnings Conference Call2/7/2008 12:07:00 PMAutoNation54.0000FinalQ4 2007 AutoNation Earnings Conference Call TranscriptAN11:00am ETTranscriptT1738691Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/moodys/COP_600048210moodys/COP_600048210htmlCredit Opinion1/4/2008 2:20:23 AMGlobal Credit Research Credit Opinion ## NOV #### Credit Opinion: AutoNation, Inc. AutoNation, Inc. Fort Lauderdale, Florida, United States Ratings Category Moody's Rating Outlook Stable Corporate Family Rating Ba# Sr Unsec Bank Credit...AutoNation, Inc.600048210150.0000NewshtmlAutoNation, Inc.COP_600048210Credit & Investment ResearchMoody's Global Credit Research