S&P revises Truck Holdings view to stable

S&P said it revised the outlook for Truck Holdings Inc. to stable from negative and affirmed the B- issuer rating.

“Sales in recent months exceeded our prior expectations, and we now expect a steady demand for the remainder of the year. Despite the ongoing U.S. recession stemming from the coronavirus pandemic, discretionary demand for products at a few aftermarket suppliers, including THI, appears to buck the trend as consumers look to upgrade their trucks,” S&P said in a press release.

The stable outlook reflects the view that stronger-than-expected demand for THI’s products should help positive free flow in 2020, allowing it to generate free cash flow, the agency said.

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