TEXT-S&P rates AutoTrader.com facilities 'BB+'

Newswire

(The following statement was released by the rating agency) -- U.S online automotive advertising company AutoTrader.com is putting in place $950 million of senior secured credit facilities. -- We are assigning the facilities a 'BB+' issue-level rating with a recovery rating of '3'. -- We are affirming our 'BB+' corporate credit rating on the company. -- The stable outlook reflects our expectation that the company will be able to reduce debt leverage and maintain adequate compliance ...

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