Hoffman Estates, Ill.-based U.S. auto dealer information technology (IT) solutions provider CDK Global Inc. reported continued site growth of its dealership management system (DMS), and we expect cross-selling of applications to drive 4%-6% organic revenue growth for the fiscal year 2022 (ending June 30, 2022), up from 1%-3% in fiscal 2021. Furthermore, we expect CDK's recent acquisition of auto digital retailer Roadster to fill a critical gap in digital transformation solutions. We revised our outlook to stable from negative. Our ratings, including our 'BB+' issuer rating, are unchanged. The stable outlook reflects our expectation that CDK will expand sites as dealership consolidation accelerates, successfully scale its digital retailing solutions, and improve average revenue per dealer site, while operating within S&P
