Moody's confirms Unisys, gives notes Ba3

Moody's Investors Service said it confirmed Unisys Corp.'s corporate family rating of B3 and revised the probability of default rating to B3/LD from Ca, following the completion of the debt exchange offer this week.

Moody's also said it assigned Ba3 ratings on the new 12.75 % senior secured notes due 2014 and 14.25% senior secured notes due 2015.

In addition, Moody's said it raised the company's speculative-grade liquidity rating to SGL-2 from SGL-3.

The outlook is stable.

According to the agency, the B3/LD probability of default rating reflects the limited default, which has occurred following completion of the previously announced private debt exchange offer for its senior notes.

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