S&P lowers Mister Car Wash

S&P said it downgraded Mister Car Wash Holdings Inc. to CCC+ from B-, citing lower car traffic and store closures caused by the coronavirus pandemic.

“The downgrade reflects our belief that the massive temporary store closures, combined with subsequent lower discretionary spending, will meaningfully weaken MCW's operating performance this year,” said S&P in a press release.

` The outlook is negative.

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