Yes, there is such a tool. It will be offered soon on the internet.
The tool used to be sold through a mailorder company years ago, and
will be available again soon. There are tens of thousands in use now.
Price will be in the ballpark of $9.95 plus S&H.
It "chases" the threads on hose bibs, then a cutting blade surfaces
the washer seat to restore the hose bib connection. Was popular among
home owners and RV's ers when they were available. (Hose bibs in RV
parks often have damaged threads, and or washer seats.)
It can also be used to "true" the male end of a hose in the event it
is smashed...like when you run over it with a car.
If you want to be on the list once the first order arrives soon from
manufacturer, just let me know and I'll advise when ready to ship.
Web site should be up and you can order online within a month or so.
If you need one immediately, I could probably get one to you.