CHARLOTTE, N.C., April 19 /PRNewswire-FirstCall/ -- Sonic Automotive, Inc.
(NYSE: SAH), a leader in automotive retailing, today confirmed that Moody's
Investors Service upgraded the company's credit rating and outlook.
Moody's upgraded the senior secured credit facility rating to Ba2 and
confirmed other ratings. Additionally, the company's overall rating outlook
was improved to stable from negative.
"We are pleased that Moody's has acknowledged the benefits of our revised
operating strategy and the progress made to date in executing that strategy,"
said Executive Vice President, Chief Financial Officer and Treasurer E. Lee
Wyatt. "Their upgrade reflects favorably on our diverse business model,
flexible cost structure and consistent cash flow generation."
About Sonic Automotive, Inc.
Sonic Automotive, Inc., a Fortune 300 company headquartered in Charlotte,
N.C., is among the largest automotive retailers in the United States operating
187 franchises and 39 collision repair centers in 15 states. For more
information about Sonic Automotive, visit http://www.sonicautomotive.com .
SOURCE Sonic Automotive, Inc.
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Related links:
http://www.sonicautomotive.com
Company News On-Call:
http://www.prnewswire.com/comp/125546.html
CONTACT:
E. Lee Wyatt, Chief Financial Officer,
+1-704-566-2415, or J. Todd Atenhan, Investor Relations,
+1-888-766-4218, or R. Carter Langston, Corporate Communications,
+1-704-566-2423, all of Sonic Automotive, Inc.
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