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XEROX RESPONDS TO RATING ACTIONS ISSUED BY MOODY'S

 XEROX RESPONDS TO RATING ACTIONS ISSUED BY MOODY'S
 STAMFORD, Conn., Oct. 27 /PRNewswire/ -- In response to an


announcement by Moody's Investors Service today that it had put debt ratings of Xerox Corporation (NYSE: XRX) under review for possible downgrade and downgraded the insurance financial strength ratings of Crum and Forster, Inc., the property and casualty insurance unit of Xerox Financial Services, Xerox issued the following statement:
 "We are disappointed by Moody's action. Xerox remains committed to its strategy to maintain strong capital structures at both the parent and at the Crum and Forster level.
 "Since the objective of the ongoing restructuring at Crum and Forster is to strengthen its operational and financial position, we are optimistic that as the restructuring plans are finalized later in the year, Moody's will affirm ratings of Xerox and restore Crum and Forster's ratings."
 -0- 10/27/92
 /CONTACT: Thomas C. Abbott of Xerox, 203-968-3378/
 (XRX) CO: Xerox Corporation ST: Connecticut IN: SU: RTG


TM -- NY130 -- 5677 10/27/92 17:42 EST
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Publication:PR Newswire
Date:Oct 27, 1992
Words:168
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