Xerox Becomes a Fallen Angel as Moody's Cuts Rating to Junk
- Downgraded to Ba1 from Baa3 by Moody’s with a negative outlook
- Company on review for downgrade by S&P, watch ends in 10 days
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Xerox Corp. is the newest addition to the set of companies downgraded to junk from investment grade.
After being downgraded by Fitch Ratings in August, Moody’s Investors Service followed suit Friday, citing an uncertain revenue base amid a decline in demand for copy and printing services as well as intense global competition.