Trailer manufacturer Wabash National, which has seen a sharp downturn in its financial measurements, has hung on to its credit rating from S&P Global, but its outlook has been lowered to negative by the ratings agency.
S&P said it was affirming Wabash’s BB- issuer credit rating. It also has a B+ issue-level rating on the company’s senior unsecured notes, as well as a recovery rating of 5. Those were both affirmed by S&P.
A negative outlook at S&P Global means conditions are in place that may lead...