NEW YORK (Standard&Poor's) Jan. 2, 2007--Standard&Poor's Ratings Services today affirmed its 'BB+' corporate credit and 'BB+' senior secured ratings on Capital Automotive LLC and Capital Automotive L.P. (collectively CARS). CARS' $2.2 billion secured credit facility has a recovery rating of '3', which was also affirmed. The outlook remains stable. "The ratings on CARS reflect the aggressive financial profile of this private entity, offset by the stable nature of the company's good quality portfolio of auto dealership properties located in growth markets," said Standard&Poor's credit analyst George Skoufis. The ratings are also supported by the continuity of management and business strategy following the company's acquisition by Flag Fund V LLC, a limited liability company advised
