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.

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