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Moody's, Fitch raise their outlooks for Xerox

By ANDREA DECKERT - 11/10/2010 3:15:48 PM

Shares of Xerox Corp. mid-afternoon were down slightly despite two ratings boosts issued Wednesday by Moody’s Investors Service Inc. and Fitch Ratings Inc.

The company’s stock (NYSE: XRX) was trading midday at $11.60, down 1.4 percent from Tuesday’s close of $11.76.

Moody's increased its outlook for Xerox to "positive" from "stable", saying it expects Xerox to generate solid and consistent cash flow. Fitch increased its outlook for the company to "stable" from "negative," citing factors including its debt reduction, improving credit and growing equipment revenue and services.

Xerox employs roughly 6,800 local workers. 
 
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