Moody’s ups Wabash CFR, assigns loan Ba3

Moody's Investors Service said it upgraded the ratings of Wabash National Corp., including the corporate family rating to Ba3 from B1.

The agency also assigned a Ba3 rating to the new $192.8 million senior secured term facility due 2022 that the company is arranging.

The outlook remains stable.

Proceeds will be used to repay in full the outstanding balance of the company's existing senior secured facility, which matures in 2019.

Wabash’s speculative grade liquidity rating was upgraded to SGL-1 from SGL-2.

Moody’s said the Ba3 rating takes into account the company's leading market position in the truck trailer manufacturing market, its ability to generate strong cash flows and the company's prudent financial management which has helped to strengthen its ability to contend with the severe cyclicality in the demand for trailers.

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