Moody’s Downgrades Xerox Debt to Junk Status
Xerox has had its well-publicized share of troubles this year, and adding to that was the decision by rating agency Moody’s Investor Service last week to downgrade Xerox’s debt from investment grade to junk status, according to Bloomberg.
In its decision, Moody’s cited an uncertain revenue base for Xerox amid a decline in demand for printing and copying services, as well as intense global competition.
Xerox is also said to be on review for a downgrade by S&P Global Ratings, with their watch period ending within the next 10 days. In August, Xerox was also downgraded by Fitch Ratings.
Xerox also recently reported that it will hold a live webcast of its 2019 Investors Day, which will be held at 1 p.m. on February 5, 2019 in New York City. To register, visit Xerox here.
More Resources
- December 2018: Layoffs Hit Xerox
- August 2018: Xerox Announces Job Cuts at U.S. and Canadian Locations
- July 2018: Xerox CEO Discusses Path Forward, Fuji Xerox, and Suppliers
- July 2018: Xerox Reports Second-Quarter Results, Addresses Fuji Xerox Partnership
- July 2018: Xerox May Sell Leasing Unit
- June 2018: Xerox to End Fujiflm-Fuji Xerox Partnership, Source Products from Other Vendors
- June 2018: Judge Refuses to Lift Injunction Barring Xerox-Fujifilm Deal
- June 2018: Fujifilm Sues Xerox for $1 Billion over Failed Merger Deal
- June 2018: Fujfilm May Walk Away from Xerox Deal
- June 2018: Fujifilm Sues Xerox Over Scrapped Sale and Merger
- May 2018: Xerox Calls Off Deal with Fujfilm, Will Install New Leadership