S&P takes Wheels off watch

S&P said it resolved its CreditWatch with negative implications on the long-term issuer credit rating of Wheels Inc. by affirming the rating at BBB+.

The agency subsequently withdrew its ratings on Wheels' at the company's request. The outlook was stable at the time of withdrawal.

“With the closing of its merger with Donlen Corp. and acquisition by Athene Holding Ltd. (A-/positive/--), Wheels Inc. will operate as a portfolio investment within the broader Athene group and help the insurance company deploy capital to the commercial vehicle leasing asset class,” S&P said in a press release.

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