Moody's Ratings affirms ratings of Sonic Automotive, Inc., CFR at Ba2
Moody's Ratings (Moody's) today affirmed ratings of Sonic Automotive, Inc.'s ("Sonic") including its Ba2 corporate family rating (CFR), Ba2-PD probability of default rating (PDR) and B1 senior unsecured notes ratings. The outlook is maintained at stable. The speculative grade liquidity rating (SGL)...Sonic Automotive is an automotive retailer in the United States. The company has two reportable segments: the Franchised Dealerships Segment and the EchoPark Segment. The Franchised Dealerships segment is comprised of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle maintenance, warranty and repair services, and arrange finance and insurance products. The EchoPark segment is comprised of pre-owned vehicle retail locations that provide customers an opportunity to search the company's nationwide inventory, purchase a pre-owned vehicle, select finance and insurance products and sell their vehicle to the company
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