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Fly News Breaks for July 17, 2017
STON
Jul 17, 2017 | 10:01 EDT
As previously reported, Raymond James downgraded StoneMor Partners to Market Perform from Outperform citing lack of clarity. Analyst John Ransom said management keeps missing deadlines as it now expects to file its 2016 10K within the next two to four weeks, following a previous July 15 target date, and does not expect to be able to file the June quarter 10Q by August 14. Further, the analyst said the lender credit agreement is under default and it is unclear under the conditions that lenders would consider granting a waiver.
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