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S&P trims Pinnacle Holdco view to negative
Standard & Poor’s said it revised its outlook to negative from stable and affirmed all of its ratings, including its B corporate credit rating, on Pinnacle Holdco Sarl.
“The ratings on Pinnacle reflect our view of the company’s position in a narrow segment of the E&P market, business performance related to cyclical oil and gas (O&G) market, competition against larger players in the E&P software industry, and the company's ‘highly leveraged’ financial risk profile,” said S&P credit analyst Andrew Yee in a news release.
S&P said it views Pinnacle's business risk profile as “weak” and its liquidity as “adequate.”
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