Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue - S&P Global Ratings’ Credit Research

Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue

Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue - S&P Global Ratings’ Credit Research
Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue
Published Dec 14, 2010
1240 words — Published Dec 14, 2010
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About This Report

  
Abstract:

OVERVIEW CARS DB4 L.P., a wholly owned subsidiary of Capital Automotive LLC, completed a $463.3 million ABS issuance, which, together with other recent transactions, will enable the company to meet an upcoming debt maturity, lower its average borrowing cost, lengthen the average term of its borrowings, and enhance its cash position. Capital Automotive LLC remains highly leveraged, and it faces a large debt maturity in late 2012. We affirmed our 'B' corporate credit ratings on Capital Automotive LLC and its affiliate, Capital Automotive L.P. We also affirmed our 'B' rating and maintained a '3' recovery rating on Capital Automotive L.P.'s senior secured debt issues. The rating outlook remains stable. NEW YORK (Standard&Poor's) Dec. 14, 2010--Standard&Poor's Ratings

  
Brief Excerpt:

RESEARCH Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue Publication date: 14-Dec-2010 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
Capital Automotive LLC
GICS
Specialized REIT's (40402070)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue" Dec 14, 2010. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Capital-Automotive-LLC-Ratings-Affirmed-Outlook-Remains-Stable-Following-Completion-Of-New-ABS-Issue-837727>
  
APA:
S&P Global Ratings’ Credit Research. (). Capital Automotive LLC Ratings Affirmed, Outlook Remains Stable, Following Completion Of New ABS Issue Dec 14, 2010. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Capital-Automotive-LLC-Ratings-Affirmed-Outlook-Remains-Stable-Following-Completion-Of-New-ABS-Issue-837727>
  
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