S&P: Xerox on positive watch

Standard & Poor's said it placed its BB- corporate credit rating and other ratings on Xerox Corp. and related entities on CreditWatch with positive implications.

The CreditWatch listing reflects the company's strengthened financial profile, notwithstanding highly competitive industry conditions, S&P noted.

At the same time, the agency said it affirmed its B-1 short term rating on Xerox, which is not on CreditWatch.

Affected ratings include the company's senior secured debt at BB-, senior unsecured debt at BB-, subordinated debt at B and preferred stock at B-.

© 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.