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S&P downgrades Internap on 'weak operating performance'

S&P Global Ratings on Aug. 16 lowered Internap Corp. ratings over weak operating and financial performance.

The rating agency lowered Internap's all ratings, including its issuer credit rating, to CCC+ from B- based on the expectation that the company's capital structure may be unsustainable in the long term due to declining earnings, limited cash generation and declining investment.

S&P Global Ratings expects that the company's current capital structure will make it difficult to deleverage organically and may result in "debt restructuring to right-size the capital structure."

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.