Business Services Industry
S&P removes Electronic Data Systems from credit watch.
Knight Ridder/Tribune Business News, December, 2004
By Crayton Harrison, The Dallas Morning News Knight Ridder/Tribune Business News
Dec. 3--Electronic Data Systems Corp.'s contract with the U.S. Navy won't continue to present a significant financial setback to the company, Standard & Poor's said Thursday, removing its threat to downgrade EDS' debt.
S&P is one of two agencies that put EDS on credit watch after the Plano computer services company delayed its third-quarter earnings report in November.
Shortly after EDS reported its earnings on Nov. 15, Fitch Ratings said the company was no longer in immediate danger of a downgrade.
S&P and Fitch both rate EDS' long-term debt at one notch above junk status with a negative outlook. The third major rating agency, Moody's Investors...
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