IBM debt rating affirmed by S&P at triple-A level

Article Abstract:

Standard and Poor's Corp (S&P) affirms its triple-A ratings on IBM's debt. The top rating has been applied to IBM's $19 million worth of senior and subordinated debt as well as to the senior debt of IBM Credit Corp and IBM International Finance NV. Moody's Investors Service Inc downgraded IBM's debt rating to double-A-2, two notches below the triple-A top rating, in Mar 1992, and IBM's ratings outlook remains negative. IBM entered the debt markets in 1979, and consistently maintained a triple-A credit rating until its first annual loss in 1991. An S&P analyst says the investor is affirming IBM's debt ratings because it expects to see a modest improvement in the computer company's operating performance in 1992. IBM announced in Nov 1992 that it would seek to improve its competitiveness via a $3 billion restructuring charge and 20,000 job cuts.

Prepackaged software, Book publishing, Evaluation, Debt financing (Corporations), Debt financing, Standard & Poor's Corp., Financial Stability

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Long-bond prices inch higher; IBM issues slump as company loses triple-A rating from Moody's

Article Abstract:

Moody's Investors Service Inc reduced IBM's credit rating from a triple-A to a double-A-2 rating. IBM is disappointed but expects only minimal effects. Long-term Treasury bond prices rose, ending a two-day losing streak and the Treasury's 30-year bonds gained one-eighth of a point amounting to $1.25 each $1,000 face amount. Rumors of a new report showing stronger growth in the economy led to reductions in bond prices, but confirmation that the bond rumors were false allowed bonds to recover. New reports on unemployment will probably show no change in the economy, with civilian unemployment staying at 7.1 percent. Analysts believe the recession is unusual because it has not become as deep as some expected but the economy is taking an unusually long time to recover.

Office machines, not elsewhere classified, Statistics, Economics, Investments, Interest rates, Unemployment, Bonds (Securities), Moody's Investor Service, Financial Analysis Software, Stock, Bonds, Ratings, Investment Brokerage

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Computerized new trading system for government bonds to be introduced

Article Abstract:

An electronic trading system developed by Electronic Joint Venture Partners (EJV) will be implemented on a trial basis in the government securities exchange market. The system will allow traders to shout into a machine and have their electronically recognized voices effect trades. Some industry observers see the system as being an unnecessary toy, but others see the new electronic trading system as having a lucrative potential in the government securities market, where trades of $100 billion a day are common. Analysts note that the EJV trading system will not revolutionize the stock exchange overnight, but its implementation is surely indicative of a trend towards automation.

Security & commodity services, not elsewhere classified, Usage, Purchasing, Product information, Securities industry, Technology application, Wall Street, Government securities, Program trading (Securities), Trends, Electronic Trading System, EJV Partners L.P.

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