Moody's Ratings downgrades Advance Auto's senior unsecured ratings to Ba1; assigns Ba1 CFR
Moody's Ratings (Moody's) today downgraded the backed senior unsecured notes and senior unsecured notes ratings of Advance Auto Parts, Inc. (Advance Auto) to Ba1 from Baa3. At the same time, we assigned Advance Auto a Ba1 corporate family rating (CFR), a Ba1-PD probability of default rating (PDR) an...Advance Auto Parts is an automotive aftermarket parts provider in North America, serving both professional installers (Professional), and do-it-yourself (DIY), customers as well as independently owned operators. The company's stores and branches provide a range selection of brand name, original equipment manufacturer and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. Through its integrated operating approach, the company serves its Professional and DIY customers through a variety of channels ranging from brick and mortar store locations to self-service e-commerce sites.
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