TEXT-S&P rates Sonic Automotive debt 'B+'
Posted on June 25, 2012 at 13:52 PM EDT
June 25 - Standard & Poor's Ratings Services today said it has assigned its 'B+' issue rating to Sonic Automotive Inc.'s proposed $200 million senior subordinated debt offering. We assigned this debt a recovery rating of '5', reflecting our expectation that lenders would receive modest (10%-30%) recovery of principal in a default. The proposed notes will mature in June 2022. At the same time, we raised the issue rating on the company's outstanding $210 million, 9% senior subordinated notes due
Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here