S&P cuts Unisys outlook to negative

Standard & Poor's said it revised its outlook on Unisys Corp. to negative from stable.

At the same time, the agency said it affirmed the B+ corporate credit rating on the company.

"The outlook revision reflects its concerns that global economic weakness will pressure operating profitability and weaken debt protection metrics," said S&P credit analyst Martha Toll-Reed.

In addition, the continuation of currently constrained credit market conditions could impede Unisys' ability to revise and/or extend credit facilities, leading to reduced liquidity over the near-to-intermediate term, the agency noted.

S&P said that its ratings on Unisys reflect the company's revenue declines over the past two years, weak profitability measures in comparison to its peers, and challenging market conditions.

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