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S&P cuts Allied Nationwide
Standard & Poor's said it lowered the issuer credit ratings on Allied Nationwide Finance Ltd. to CC/C from B/B.
The action reflects a material weakening of the company's liquidity and cash position beyond what was anticipated when S&P lowered the long-term issuer credit rating to B and placed it on CreditWatch Negative on June 4, according to the agency.
The ratings remain on CreditWatch negative.
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