This report does not constitute a rating action. ENGLEWOOD (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today said that AutoNation Inc.'s (BBB-/Stable/A-3) upsize of its commercial paper program--to a maximum of $2.0 billion of notes outstanding at any time from $1.9 billion--doesn't affect its view of the company's credit quality. The short-term rating remains'A-3'. The notes issued pursuant to the program will be the obligation of AutoNation only and will not be guaranteed by any of the company’s subsidiaries. Our'BBB-'rating on Fort Lauderdale, Florida-based AutoNation is unchanged, as is the stable outlook. The rating reflects our assessment of the company's liquidity as adequate and consistent free cash flow generation. Moreover, we view the company's business model
