Xerox Holdings Corp.'s Senior Unsecured Note Issuance Rated 'BB' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Xerox Holdings Corp.'s Senior Unsecured Note Issuance Rated 'BB' (Recovery Rating: '3')

Xerox Holdings Corp.'s Senior Unsecured Note Issuance Rated 'BB' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Xerox Holdings Corp.'s Senior Unsecured Note Issuance Rated 'BB' (Recovery Rating: '3')
Published Aug 03, 2020
3 pages (1442 words) — Published Aug 03, 2020
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Aug. 3, 2020--S&P Global Ratings today assigned its 'BB' issue-level and '3' recovery ratings to U.S.-based print technologies company Xerox Holdings Corp.'s proposed offering of senior unsecured notes due 2025 and 2028. We expect the company will use the net proceeds to help refinance upcoming debt maturities. For our latest credit opinion on Xerox Holdings Corp. please see "Xerox Holdings Corp. Downgraded To 'BB' On Expected Continued Operational Headwinds And High Event Risk," Aug. 3, 2020. Issue Ratings - Recovery Analysis Key analytical factors Our '3' recovery rating on the unsecured debt is unchanged but could be pressured over time if Xerox issues secured debt, which is immaterial currently. The '3' recovery rating on the

  
Brief Excerpt:

...- Total unsecured claims: $5.7 billion - --Recovery expectations: 50%-70%; rounded estimate: 50% Note: All debt amounts include six months of prepetition interest....

  
Report Type:

Ratings Action

Ticker
XRX
Issuer
Xerox Holdings Corporation
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Xerox Holdings Corp.'s Senior Unsecured Note Issuance Rated 'BB' (Recovery Rating: '3')" Aug 03, 2020. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Xerox-Holdings-Corp-s-Senior-Unsecured-Note-Issuance-Rated-BB-Recovery-Rating-3-2489493>
  
APA:
S&P Global Ratings’ Credit Research. (). Xerox Holdings Corp.'s Senior Unsecured Note Issuance Rated 'BB' (Recovery Rating: '3') Aug 03, 2020. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Xerox-Holdings-Corp-s-Senior-Unsecured-Note-Issuance-Rated-BB-Recovery-Rating-3-2489493>
  
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