Moody's puts Xerox rating below investment grade; action adds to concerns about liquidity

Article Abstract:

Moody's Investors Service has downgraded its rating of Xerox Corp. debt to junk bond status. Xerox may have to buy back or set aside funds to cover $110 million in derivative contracts. In addition it may be necessary to refinance $315 million in accounts receivable by February.

Securities, Photo/film scanner, Photo scanners

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Facing slump and big debts, Xerox hires consulting firm

Article Abstract:

Xerox Corp. has hired Blackstone Group to advise it on how best to improve its balance sheet in the face of $2.7 billion in debt that comes due in 2001. The company says it has no plans to file for bankruptcy. Xerox continues its divestiture program, and is in talks to sell half of its stake in Fuji Xerox to Fuji Photo Film.

Investment Banking and Securities Dealing, Investment Banking, Computer peripheral equipment, not elsewhere classified, Other Computer Peripheral Equipment Manufacturing, Security brokers and dealers, Keypunch Devices, Investment banks, Contracts, Computer peripherals industry, Image scanner, Image scanners, The Blackstone Group

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Upbeat Xerox reports lower-than-expected loss in first quarter

Article Abstract:

Xerox Corp. had an operating loss of $86 million in the first quarter. The loss was equivilent to about 12 cents a share that was lower than analysts expectations of 28 cents a share.

Sales, profits & dividends, Company sales and earnings, Company earnings/profit

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