FORT LAUDERDALE, Fla., November 17, 2011 /PRNewswire/ — AutoNation, Inc. (NYSE: AN), America`s largest car dealership, announced today that these were discussions with its existing lenders as well as with new lenders for a proposed new five-year credit contract, with term loans and revolving credit facilities totalling approximately $1.5 billion, with an accordion function that would allow the company to increase the amount of these facilities to $500 million. AutoNation – modification also allows co to increase the amount of the revolving credit facility, with all additional maturity loans, up to $500 million in the aggregate source code for Eikon: More corporate coverage: `AutoNation` – amendment extended the termination date of the credit contract until October 19, 2022 – AutoNation said October 19, its existing unsecured credit agreement with an “unchanged” and “revised” on this subject. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All other statements as statements of historical fact are or may be considered forward-looking statements. Words such as “expected,” “expected,” “expected,” “objective,” “plans,” “believes,” “goes,” “can,” “wants,” “wants,” and variations in similar words and phrases are intended to identify these forward-looking statements. Statements that describe our objectives, objectives or plans are forward-looking statements. Our forward-looking statements reflect our current expectations regarding future results and events and include known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or performance to differ materially from the future results, results and performance expressed or implied by such statements. These risks, uncertainties and other factors include, among other things, economic conditions in general; conditions in credit markets and changes in interest rates; The success and financial viability of the car manufacturers and dealers with whom we operate franchises; The duration and severity of production and supply chain disruptions due to natural disasters in Japan and Thailand; Factors affecting our good internalization and any other assessment of the impairment of material assets; natural disasters and other adverse events; restrictions imposed by car manufacturers; Settlement of court and administrative proceedings; Regulatory factors that affect our business and other factors described in our press releases and securities submissions, including our management reports on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K.
Forward-looking statements contained in this press release relate only to the date of this press release and we undertake no obligation to update any forward-looking statements to reflect the events or circumstances below. AutoNation, Inc., headquartered in Fort Lauderdale, Florida, is the largest car dealership in America. As part of the Standard and Poor`s 500 Index owned and operated AutoNation as of September 30, 2011 257 new vehicle franchises in 15 states. For more information, see investors.autonation.com or www.AutoNation.com.