TEXT-S&P assigns Adesa 'BB' corporate credit rating

Newswire

(The following statement was released by the rating agency) NEW YORK, April 23 - Standard & Poor's Rating Services said today that it assigned its 'BB' corporate credit rating to ADESA Inc. At the same time, Standard & Poor's assigned its 'BB' rating to ADESA's proposed new $500 million senior secured bank credit facility. The outlook is stable. Carmel, Ind.-based ADESA, which operates wholesale used-vehicle auctions and provides used-vehicle floorplan financing, will have pro ...

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