Fitch ups Xerox preferreds to B+, outlook to positive

Fitch Ratings said it affirmed Xerox Corp. and its subsidiaries' debt ratings, including its BB senior unsecured debt rating and BBB- senior secured bank credit facility.

Fitch also upgraded the trust preferred securities to B+ from B due to the company's strengthening financial profile and recovery prospects.

The outlook is revised to positive from stable.

Fitch said the positive outlook and Xerox's ratings reflect the company's improved credit protection measures and adequate liquidity profile, consistent operating and financial performance, simplified capital structure and progress in reducing core debt.

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