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S&P cuts Progressive Gaming
Standard & Poor's said it lowered its ratings on Progressive Gaming International Corp., including its corporate credit rating to CCC from CCC+.
The outlook is negative.
S&P added that the ratings on the company reflect its weak business position, limited number of game themes, challenges associated with creating popular games, limited liquidity and small cash flow base, which constrains the company's ability to invest heavily in R&D.
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