Switzerland-based vending services operator Selecta Group B.V. and owners KKR are committed to improve the management of the group's capital expenditures and liquidity position as well as to increase its margins. We anticipate that negative free operating cash flow will improve in the financial year ending Sept. 30, 2016, before breaking even in 2017. As a result, we are affirming our long-term corporate credit rating on Selecta at 'B' and removing it from CreditWatch negative. The negative outlook reflects the risks to the rating if Selecta is not able to turn around negative cash flow and improve margins in line with management's plans. On July 25, 2016, S&P Global Ratings affirmed its long-term corporate credit rating on Switzerland-based Selecta Group
