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S&P: Rural/Metro to negative
Standard & Poor's said it revised the outlook on Rural/Metro Corp. to negative.
The revision reflects weaker earnings and cash flow, prompting higher borrowings on its revolving credit and leading to very weak debt protection measures, the agency said. S&P said it expected these measures to improve.
The revision also is based on ongoing cash outflows resulting from weaker earnings, prolonged AR collection and higher capital spending than anticipated, the agency said.
The ratings also consider the company's reflects a highly leveraged financial risk profile, S&P said.
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