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AN » Topics » We are subject to interest rate risk in connection with our floorplan notes payable, revolving credit facility, term loan facility, and floating rate senior unsecured notes that could have a material adverse effect on our profitability.These excerpts taken from the AN 10-K filed Feb 28, 2008. We are
subject to interest rate risk in connection with our floorplan
notes payable, revolving credit facility, term loan facility,
and floating rate senior unsecured notes that could have a
material adverse effect on our profitability.
Most of our debt, including our floorplan notes, is subject to
variable interest rates. The variable interest rates under our
revolving credit facility, term loan facility, mortgage facility
(variable interest rate through November 20, 2007, fixed
interest rate thereafter), floating rate senior unsecured notes,
and certain of our floorplan notes payable all increased in 2006
and 2007. Our variable interest rate debt will fluctuate with
changing market conditions and, accordingly, our interest
expense will increase if interest rates rise. In addition, our
net inventory carrying cost (floorplan interest expense net of
floorplan assistance that we receive from automotive
manufacturers) may increase due to changes in interest rates,
inventory levels, and manufacturer assistance. We cannot assure
you that a significant increase in interest rates would not have
a material adverse effect on our business, financial condition,
results of operations, or cash flows.
We are subject to interest rate risk in connection with our floorplan notes payable, revolving credit facility, term loan facility, and floating rate senior unsecured notes that could have a material adverse effect on our profitability. Most of our debt, including our floorplan notes, is subject to variable interest rates. The variable interest rates under our revolving credit facility, term loan facility, mortgage facility (variable interest rate through November 20, 2007, fixed interest rate thereafter), floating rate senior unsecured notes, and certain of our floorplan notes payable all increased in 2006 and 2007. Our variable interest rate debt will fluctuate with changing market conditions and, accordingly, our interest expense will increase if interest rates rise. In addition, our net inventory carrying cost (floorplan interest expense net of floorplan assistance that we receive from automotive manufacturers) may increase due to changes in interest rates, inventory levels, and manufacturer assistance. We cannot assure you that a significant increase in interest rates would not have a material adverse effect on our business, financial condition, results of operations, or cash flows. This excerpt taken from the AN 10-K filed Feb 28, 2007. We are
subject to interest rate risk in connection with our floorplan
notes payable, revolving credit facility, term loan facility,
mortgage facility and floating rate senior unsecured notes that
could have a material adverse effect on our
profitability.
Most of our debt, including our floor plan notes, is subject to
variable interest rates. The variable interest rates under our
revolving credit facility, term loan facility, mortgage
facility, floating rate senior unsecured notes and certain of
our floorplan notes payable all increased in 2006. Our variable
interest rate debt will fluctuate with changing market
conditions and, accordingly, our interest expense will increase
if interest rates rise. In addition, our net inventory carrying
cost (floorplan interest expense net of floorplan assistance
that we receive from automotive manufacturers) may increase due
to changes in interest rates, inventory levels and manufacturer
assistance. We cannot assure you that a significant increase in
interest rates would not have a material adverse effect on our
business, financial condition, results of operations or cash
flows.
This excerpt taken from the AN 10-K filed Feb 24, 2005. We are subject to interest rate risk in
connection with our floorplan notes payable, revolving credit
facilities and mortgage facilities that could have a material
adverse effect on our profitability.
The interest rates under our revolving credit facilities, mortgage facilities and certain of our floorplan notes payable all increased in 2004, and we anticipate that such rates will increase further in 2005. Although we expect increases in our interest rates under our floorplan notes payable to be partially offset by increases in floorplan assistance from the automotive manufacturers, we cannot assure you that a significant increase in interest rates would not have a material adverse effect on our business, financial condition, results of operations or cash flows. The net inventory carrying benefit that we have realized as a result of floorplan assistance received from the automotive manufacturers has decreased in recent years, and we expect additional net decreases in 2005.
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