S&P rates Wabash, loan B+

Standard & Poor's said it assigned its preliminary B+ corporate credit rating to Wabash National Corp. The outlook is stable.

At the same time, the agency said it assigned preliminary B+ issue-level and preliminary 4 recovery ratings to the company's $300 million term loan B, indicating an expectation of average recovery in the event of a payment default.

S&P said the ratings reflect its view of Wabash National Corp.'s business profile as "weak" and the financial profile as "aggressive"

"We believe the acquisition of Walker has the potential to transform Wabash into a more profitable company with steady cash flow and the opportunity to expand into new end markets and into other regions and countries," said S&P credit analyst Lawrence Orlowski in a news release.

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