CollisionWeek

Your source for the latest collision repair industry news, statistics and trend analysis.

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / News / LKQ Debt Rated Investment Grade

LKQ Debt Rated Investment Grade

April 19, 2022 By CollisionWeek Editor

LKQ Corporation (NASDAQ:LKQ) today announced that S&P Global Ratings raised the Company’s issuer credit rating to an investment grade rating of BBB- from BB+. Additionally, S&P raised the Company’s issuer-level rating on its unsecured debt to BBB- from BB+. S&P’s rating outlook for LKQ Corporation is stable.

LKQ logo“Achieving investment grade status with S&P is further validation of our Operational Excellence program that we launched in 2019. The success of this program has supported our ability to deliver record financial results under difficult conditions, strengthen our balance sheet and execute a disciplined capital allocation strategy,” said Varun Laroyia, Executive Vice President and Chief Financial Officer. “The immediate implication of the upgrade is that collateral requirements fall off our senior secured revolving credit facility. With this upgraded rating, we expect the Company over time to continue to drive higher levels of free cash flow to invest in growing our business and returning capital to stockholders.”

Filed Under: News Tagged With: Credit Ratings, LKQ Corporation, S&P Global

Interview Sponsors

IBIS Publisher Partner

Login

Remember Me
Subscribe | Lost your Password?

Tags

AAA AASP/NJ Acquisitions Advanced Driver Assistance Systems Agreements Signed Annual Conference Auto Care Association Automotive Service Association Autonomous Vehicles Awards Axalta Coating Systems Board of Directors Boyd Group California Canada Career and Technical Education CARSTAR CCC Classic Collision Collision Industry Electronic Commerce Association Collision Repair Education Foundation Coronavirus Crash Champions Diagnostics Earnings Electric Vehicles Florida I-CAR Lawsuits legislation LKQ Corporation National Auto Body Council Network Affiliations New Jersey New Vehicle Sales Non-OEM Parts Openings People PPG Industries Regulations Right to Repair Scholarships Texas United Kingdom Workforce Development

Recent Articles

  • US New Light Vehicle Sales Rate Topped 17 Million Units for Second Consecutive Month in April May 9, 2025
  • Iowa Governor Signs Auto Glass Legislation May 9, 2025
  • PPG Launches New Clearcoats for Collision Repair Markets May 9, 2025
  • Military Members to Receive Vehicle Repair Assistance Through asTech and Puget Collision Partnership May 9, 2025
  • Presenters Announced for September 23-25 CIECA CONNEX Conference May 9, 2025
  • Wholesale Used-Vehicle Prices Up in April May 8, 2025
  • Axalta Coating Systems Increases Support of Penn College May 8, 2025

CollisionWeek Membership

  • Login
  • Lost Password
  • Membership Details
  • Register
  • Sponsors
  • Subscription Information
  • Terms of Use for CollisionWeek

More Information

About CollisionWeek
Contact Us
Privacy Policy
Event Calendar
Take the Collision Repair Business Conditions Survey

Copyright 1999-2025 - QuanDec Corporation - All Rights Reserved · Log in