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AutoNation, Inc. -- Moody's affirms AutoNation ratings; long-term at Baa3, short-term at Prime-3

Moody's Investors Service ("Moody's") today affirmed all ratings of AutoNation, Inc., ("AutoNation"), including the Baa3 senior unsecured rating and Prime-3 commercial paper rating. "Today's affirmations recognize the strength of AutoNation's operating performance in the face of a slowing new vehicle sales environment, which is validating its brand extension strategy as well as the efficiency of its flexible operating model," stated Moody's Vice President Charlie O'Shea. "With its used business continuing to generate positive results, providing significant margin insulation from the softness of the new business, and its collision and auto parts initiatives generating traction, AutoNation is well-positioned to navigate even the choppiest of waters as was evident during the Recession," added O'Shea.