MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it
raised its outlook on technology services company Unisys Corp. to stable from
negative, citing an improved financial profile and increased profitability.
S&P affirmed the 'B+' corporate credit rating on the company, and added the
rating on Unisys reflects the company's lack of revenue growth, historically
weak credit protection measures, and challenging market conditions.
However, Unisys maintains a good competitive position, especially in the
federal government and public sector, strong client relationships, and
increasing global scale, the ratings agency added.
S&P also said intense competition will continue to challenge Unisys' efforts
to increase revenues and profit margins. However, results in 2008 and beyond
should benefit from ongoing cost structure realignment and the diminished impact
of problem contracts, it added.
TFN.newsdesk@thomson.com
ami/npr
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