Moody's rates Unisys notes B1

Moody's Investors Service said it rated Unisys Corp.'s $210 million of new senior unsecured notes due 2017 at B1. The outlook is stable.

At the same time, the agency upgraded the rating of the company's senior unsecured notes due 2016 to B1 from B2, affirmed the corporate family rating at B1 and affirmed the senior secured rating at Ba1.

Moody's said these actions follow Unisys' announcement that it will use the proceeds of the new notes due 2017 to call the remaining $183.1 million of 12.75% secured notes due 2014. Once the expected redemption of the 12.75% secured notes is completed, Moody's expects to withdraw the senior secured rating.

Supporting the corporate family rating are a diversified services portfolio which includes a large public sector component and a geographic mix in which more than half of revenues are international.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.