Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed - S&P Global Ratings’ Credit Research

Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed

Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed - S&P Global Ratings’ Credit Research
Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed
Published Jul 01, 2010
2061 words — Published Jul 01, 2010
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Abstract:

We expect U.S. sales of light motor vehicles to stabilize at 11.7 million units for 2010. By the standard of 2007, when 16.1 million vehicles were sold, our projection for this year is still weak, but represents a 13% increase from 2009. We revised our outlook on Capital Automotive and Capital Automotive L.P. (collectively CARS) to stable from negative because we believe that the recovery in sales volume puts CARS' auto dealer tenants on firmer footing. Stabilizing industry fundamentals improve CARS' longer-term recapitalization prospects (to address the 2012 maturity of its large secured term loan). We also affirmed our 'B' corporate credit rating and our 'B' senior unsecured debt rating on CARS. Our recovery rating on the company's senior unsecured

  
Brief Excerpt:

RESEARCH Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed Publication date: 01-Jul-2010 Primary Credit Analyst: Elizabeth Campbell, New York (1) 212-438-2415; elizabeth_campbell@standardandpoors.com...

  
Report Type:

Research Update

Issuer
GICS
Specialized REIT's (40402070)
Sector
Global Issuers, Structured Finance
Country
Region
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed" Jul 01, 2010. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Capital-Automotive-Outlook-Revised-To-Stable-Ratings-Affirmed-807319>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Capital Automotive Outlook Revised To Stable; Ratings Affirmed Jul 01, 2010. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Capital-Automotive-Outlook-Revised-To-Stable-Ratings-Affirmed-807319>
  
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