S&P affirms Wand, facilities

S&P said it affirmed its B corporate credit rating on Wand Intermediate I LP and affirmed its B issue-level and 3 recovery ratings on the company's first-lien debt and revolver as well as its CCC+ issue-level and 6 recovery ratings on its second-lien term loan.

The outlook remains stable.

“The company has an economically resilient business model that is mitigated by its aggressive expansion strategy, narrow scope of operations, limited scale, and lack of diversity (the company conducts business only in certain U.S. locales and does only collision repair),” the agency said in a news release.

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