Fitch Discusses EDS Downgrade During Teleconference Today, 10 a.m.Business Editors NEW YORK--(BUSINESS WIRE)--March 25, 2004 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. analysts will discuss the rating rationale behind the downgrade of Electronic Data Systems Corp. (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. ) during a teleconference this morning at 10 a.m. EST EST electroshock therapy. EST abbr. electroshock therapy . Fitch Senior Director Brendan Buckley Brendan Buckley is currently known for being a drummer in popstar Shakira's band. Biography Early life Brendan Buckley (nickname: Ninja Drummer) was born in Morristown, New Jersey on March 13, 1974. will lead the call and be joined by primary EDS analyst Nick Nilarp. Prepared remarks will last approximately fifteen minutes, followed immediately after by a questions-and-answer (Q&A) session. Fitch downgraded EDS' senior unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. to 'BBB-' from 'BBB' and withdrew its 'F3' commercial paper rating yesterday based on lowered expectations for cash flow from the Navy Marine Corp. Intranet (NMCI NMCI Navy/Marine Corps Intranet NMCI National Multi-Cultural Institute ) deal and expected continued pressure on the company's profitability, margins, and free cash flow. The release ('Fitch Ratings Downgrades EDS to 'BBB-'; Outlook Stable') is available on the Fitch Ratings web site at 'www.fitchratings.com'. Participants should call 877-897-0442 and international participants should dial 706-643-7396. All participants should dial in ten minutes prior to the 10:00 a.m. EST start time and give the passcode '6423616'. The call leader is Brendan Buckley. Interested parties who are not available for the teleconference will be able to hear a replay of the call starting this afternoon at 1:00 p.m. EST until April 1, 2004 at 11:00 EST. Domestic participants should dial 800-642-1687 and international listeners should dial 706-645-9291 and use the passcode '6423616'. Additionally, a replay of the teleconference will be archived on the Fitch Ratings web site for one month. Interested parties can find the appropriate link at the 'Company Events & Online Media' link which is located under the heading 'About Fitch' at 'www.fitchratings.com'. |
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