S&P: Corel view developing

Standard & Poor's said it revised the outlook on Corel Corp. to developing from stable.

The agency also said it affirmed its B- long-term corporate credit rating.

The outlook revision reflects the considerable uncertainty about Corel's near-term financial and growth strategies, owing to its upcoming debt maturity and tight covenant headroom, S&P said.

The ratings also reflect the company's vulnerable business risk profile, lack of diversity and weak market position within the highly competitive packaged software industry, the agency said.

The ratings also consider its highly leveraged financial risk profile due to its aggressive financial policy, S&P added.

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