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S&P: A&P view to developing
Standard & Poor's said it revised the outlook on the Great Atlantic & Pacific Tea Co. (A&P) to developing from negative.
The agency also said it affirmed the company's CCC corporate credit rating.
The outlook revision is a result of the company's higher operating margins, said Charles Pinson-Rose, an S&P analyst.
The company has executed various assets sales that enhanced its liquidity, Pinson-Rose said in a press release.
The company's overall profits may still be vulnerable to continued sales declines over the next year, which could strain the company's liquidity, the analyst said.
The company's financial risk profile is considered highly leveraged and vulnerable business risk profile, he added.
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