S&P revises Wheel Pros view to stable

S&P said it revised the outlook for Wheel Pros Inc. to stable from negative and affirmed the company’s B- issuer credit rating.

“The outlook revision and affirmation reflect our updated forecast for adjusted debt to EBITDA in the 6x-7x range in 2020 and 2021 and robust near-term demand for the company's products, S&P said in a press release.

Second-quarter results for Wheel Pros and other aftermarket auto parts companies suggest fiscal years 2020 and 2021 could be more favorable than the agency’s March 17 forecast, S&P said.

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