TEXT-S&P releases rpt on recent rating actions on auto retailers

Newswire

(The following statement was released by the rating agency) Jan 29 - Standard & Poor's Ratings Services expects 2009 to be rough for the rated U.S. auto retailers, all of which now have negative outlooks. Standard & Poor's estimates that new light-vehicle sales will drop 24%, to 10.0 million units, in 2009 from 13.2 million units in 2008, and recover only slightly to 11.7 million units in 2010. According to a credit FAQ, "Recent Negative Rating Actions On U.S. Auto Retailers ...

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