NEW YORK (Standard&Poor's) Nov. 30, 2005--Standard&Poor's Ratings Services today said its 'BBB-' corporate credit and senior unsecured debt ratings and its 'BB+' preferred stock rating on Capital Automotive REIT and Capital Automotive L.P. (collectively CARS) remain on CreditWatch with negative implications, where they were placed Sept. 7, 2005. The CreditWatch placements followed the company's Sept. 6, 2005, announcement that it had agreed to be acquired by Flag Fund V LLC in a transaction expected to close in late 2005. At the same time, preliminary ratings of 'BB+' and 'BB-' are assigned to Capital Automotive L.P.'s proposed $1.670 billion secured credit facility and Capital Automotive REIT's proposed $500 million senior unsecured notes, respectively. Proceeds of the two
