“The outlook revision reflects our expectation that operating performance will likely be pressured in the medium term, because management has indicated it’s converting the IT system in 2017 and forecasting an operating loss and a reduction in days’ cash on hand,” said S&P credit analyst Margaret McNamara.
The outlook is stable, reflecting S&P’s view of PRMC’s strong business position, strong balance sheet and expectation that market share will remain solid.
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