May 15, 2017 / 12:12 PM / 4 months ago

BRIEF-PRA Group agrees to settle with IRS

May 15 (Reuters) - PRA Group Inc:

* PRA Group agrees to settle with IRS

* Reached a settlement with irs in regards to notices of deficiency for tax years ended December 31, 2005 to December 31, 2012

* PRA Group-under deal,subject to court approval, will utilize a new tax methodology to recognize net finance receivable revenue effective tax year 2017

* Company will not be required to pay any interest or penalties related to prior periods

* PRA Group -settlement should have no direct impact on reported earnings as co not required to pay interest or penalties related to prior periods

* Do not expect this to have any material impact on ability to purchase nonperforming loans Source text for Eikon: Further company coverage:

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