TEXT-S&P revises PRWireless outlook to negative

(The following statement was released by the rating agency)

Overview
-- Puerto Rico-based PRWireless may be under pressure to remain in
compliance with a leverage covenant in its credit agreement that tightens in
the second quarter of 2012, but it is our understanding, that the company is
seeking amendments to its credit agreement which could include relief under
this covenant.
-- An increase in customer acquisition costs to meet competition and to
attract higher end cus

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