Moody's upgrades Sonic Automotive's CFR to Ba2
Rating Action: Moody's upgrades Sonic Automotive's CFR to Ba2. Global Credit Research- 06 Oct 2021. New York, October 06, 2021-- Moody's Investors Service today upgraded the ratings of Sonic Automotive, Inc., including the corporate family rating, which was upgraded to Ba2 from Ba3.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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