This report does not constitute a rating action. Wash Bidco Inc. continues to drive operational momentum through 2026, fueled by consistent top-line growth despite temporary margin pressure from elevated strategic investments. The company grew its revenues 4.2% year over year in the first half of fiscal 2026 to $449 million, on net machine growth, quarterly price increases, and stable demand across core laundry service markets. S&P Global Ratings expects full-year revenue to expand about 4%, based on similar factors. While revenue growth remains healthy, the company's S&P Global Ratings-adjusted EBITDA declined slightly in the first half of the year, contracting 1.5% year over year to $143.6 million. We expect its S&P Global Ratings-adjusted EBITDA to be flat at $290 million
