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Moody's cut Burroughs' and Sperry's debt rating.

June 02, 1986

Citing Burroughs' agreement to buy the rival computer company, Moody's Investors Service dropped both companies' senior debt to the Baa2 category, meaning Moody's considers them on the low end of investment grade. Burroughs' rating had been A2, and Sperry's had been A3. Moody's said the combined companies' cash flow needed to pay off debts "will remain under pressure over the intermediate term."

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