Xerox Faces Mounting Financial Pressure Following Credit Downgrade

Xerox Holdings Corp. finds itself navigating increasingly turbulent financial waters after S&P Global Ratings downgraded the company’s credit rating on Thursday. The agency moved its assessment from ‘B-‘ to ‘CCC+’, while maintaining a negative outlook that underscores the substantial challenges confronting the printing specialist. This decision reflects concerns about weakening demand in Xerox’s core business operations and the company’s recent downward revision of its annual forecast.

Even before the credit rating action, Xerox had disappointed investors with its third-quarter results. While the company reported adjusted earnings of $0.20 per share, surpassing expectations of a $0.18 loss, revenue told a different story. Sales reached only $1.96 billion, falling short Read more...