S&P boosts Unisys

Standard & Poor's said it raised the corporate credit rating on Unisys Corp. to B from SD, its unsecured notes due 2016 to B from D and revised the recovery rating on its unsecured debt to 4 from 3.

The agnecy assigned Unisys' $385 million first-lien notes and $246 million second-lien notes a rating of BB- with 1 recovery rating.

"Our ratings on Unisys reflect ongoing, year-over-year revenue declines, volatile profitability measures, and challenging market conditions, offset in part by a good competitive position, especially in the federal government and public sector," S&P analyst Martha Toll-Reed said in a statement.

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