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Credit Rating Drops to Near Junk for Plano, Texas-Based EDS.
Publication: The Dallas Morning News (Dallas, Texas) (via Knight-Ridder/Tribune Business News) Publication Date: 25-MAR-04 |
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COPYRIGHT 2004 The Dallas Morning News
Byline: Crayton Harrison
Mar. 25--Electronic Data Systems Corp.'s debt profile worsened Wednesday when Fitch Ratings cut the company's credit rating to one notch above junk status.
The agency, one of three that had been reviewing Plano-based EDS' debt for a possible downgrade, cited lower prospects for contract signings and for cash flow from the computer services company's $7 billion contract with the U.S. Navy.
EDS is waiting to hear whether Standard & Poor's will lower...
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