Research Update: Rating On LKQ Corp. Raised To 'BB' From ' BB-' On Revised Business, Financial Profile Scores - S&P Global Ratings’ Credit Research

Research Update: Rating On LKQ Corp. Raised To 'BB' From ' BB-' On Revised Business, Financial Profile Scores

Research Update: Rating On LKQ Corp. Raised To 'BB' From ' BB-' On Revised Business, Financial Profile Scores - S&P Global Ratings’ Credit Research
Research Update: Rating On LKQ Corp. Raised To 'BB' From ' BB-' On Revised Business, Financial Profile Scores
Published Apr 26, 2010
2421 words — Published Apr 26, 2010
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe U.S.-based LKQ Corp.'s consistent profitability and free cash generation during the economic downturn reflect the company's recession-resistant business model. Financial results for 2009 were better than our expectations, and LKQ reduced term debt by about $42 million in 2009. We are raising the corporate credit rating on LKQ to 'BB' from 'BB-' as well as the ratings on the senior secured debt and shelf for unsecured and subordinate debt. The outlook is stable. On April 26, 2010, Standard&Poor's Ratings Services raised its corporate credit rating on Chicago-based LKQ Corp. to 'BB' from 'BB-'. At the same time, we raised our ratings on LKQ's senior secured debt to 'BBB-' and also raised the rating on the shelf

  
Brief Excerpt:

RESEARCH Research Update: Rating On LKQ Corp. Raised To '##' From ' ##-' On Revised Business, Financial Profile Scores Publication date: 26-Apr-2010 Primary Credit Analyst: Nancy C Messer, CFA, New York (1) 212-438-7672; nancy_messer@standardandpoors.co...

  
Report Type:

Research Update

Ticker
LKQX
Issuer
LKQ Corp.
GICS
Distributors (25501010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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LKQ Corp. – 2010/05/04 – US$ 500.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Rating On LKQ Corp. Raised To 'BB' From ' BB-' On Revised Business, Financial Profile Scores" Apr 26, 2010. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rating-On-LKQ-Corp-Raised-To-BB-From-BB-On-Revised-Business-Financial-Profile-Scores-794019>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Rating On LKQ Corp. Raised To 'BB' From ' BB-' On Revised Business, Financial Profile Scores Apr 26, 2010. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Rating-On-LKQ-Corp-Raised-To-BB-From-BB-On-Revised-Business-Financial-Profile-Scores-794019>
  
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