Aegis Toxicology Sciences Corp. signed an amendment to extend the reporting deadline for its annual audit until June 14, 2019. This is the second delay in 2018 year-end financial reporting, as Aegis already utilized its grace period pursuant to its credit agreement. We are placing our ratings on Aegis, including the 'B' issuer credit rating, on CreditWatch with negative implications. The CreditWatch placement reflects our heightened concerns around the company's cash flow generation, given ongoing issues around receivables collection and weaker than expected cash flow generation over the first nine months of 2018. We expect to resolve the CreditWatch when Aegis files its 2018 and first-quarter 2019 financial statements. The CreditWatch placement follows the announcement that Aegis delayed filing its
