NEW YORK (Standard&Poor's) Oct. 4, 2011--Standard&Poor's Ratings Services said today that LKQ Corp.'s (BB+/Stable/--) announcement of the acquisition of Euro Car Parts for a reported $347 million has no immediate impact on the rating for LKQ. The acquired company appears to be a smaller, but similar operation to LKQ (aftermarket collision replacement products), and expands the company's presence outside North America for the first time. Still, the leveraged acquisition involves execution risk and the consolidated adjusted leverage under our estimates could be up to 3x at close. For the current rating, we assume adjusted debt to EBITDA will be under 2.5x; we believe LKQ's demonstrated cash-generation capabilities will permit leverage to return to close to current
