S&P views Caliber Collision positively

S&P said it changed its outlook for Caliber Collision (Wand Newco 3 Inc.) to positive from stable and affirmed its ratings, including the B- issuer rating.

“The outlook revision reflects Caliber's sound operating performance in 2022 and our expectation it will continue to benefit from favorable demand trends in 2023. The company's operating performance improved in 2022 supported by the healthy demand for collision repairs as vehicle miles traveled remained strong. At the same time, labor shortages and wage inflation kept supply in the collision repair industry tight, causing repair demand to materially outpace capacity during the year,” the agency said in a press release.

S&P said it could lift Caliber’s ratings within the next 12 months if labor shortages, inflationary pressures, and weaker macroeconomic conditions do not substantially hurt its operating performance and its credit metrics remain in line with expectations.

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