Some IBM Debt Rating Reduced: Duff &...
From Times Staff and Wire Reports
Some IBM Debt Rating Reduced: Duff & Phelps Credit Rating Corp. lowered International Business Machine Corp.’s bond rating to AA+ from AAA because of what it called a less optimistic outlook for the computer giant. The reduced rating applies to IBM’s senior notes, debentures and convertible subordinated debentures and means that IBM may face higher borrowing costs.
