S&P shifts TPro outlook to stable

S&P said it revised its outlook for TPro Acquisition Corp. and affirmed the B- ratings on the company and its senior secured debt.

“We expect the improved conditions in the heavy-duty truck parts aftermarket will enable the company to increase its revenue in 2022 and 2023. TPro increased its revenue by nearly 12% in fiscal year 2021, which was in line with our expectation for a low-teen percent expansion, supported by the improved market conditions in the heavy-duty truck parts aftermarket sector that were partially offset by product supply constraints. The demand for its products was strong as the volume of on-road truck activity continued to recover in 2021,” S&P said in a press release.

The agency said it sees the healthy demand for TPro’s products continuing into fiscal year 2023.

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