The ratings agency lowered its rating to B- from B, saying that its high operating expenses are hampering its ability to pay down its massive debt from the $2.9 billion buyout of the company last year by Bain Capital from Charlesbank which involved a total debt load of $2 billion. S&P said that sales have generally met its expectations but the operating performance has deteriorated because it has not gotten the productivity expected from its recent acquisitions of sales people and investments in technology. The sales force has increased by 20% in the ... Log in to view full article.