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High Technology

BRIEFLY

August 22, 1991|From Times Staff and Wire Reports

S&P Outlook for IBM Sours: Citing the deterioration of the computer industry and IBM's profit slide this year, Standard & Poor's has downgraded its ratings outlook for the world's largest computer maker to "negative" from "stable." While the action has no immediate impact, the rating bureau said International Business Machines' failure to improve its business operations could result in the company's losing its AAA bond rating from S&P in the future. IBM said the S&P outlook change would not affect its immediate ability to borrow funds or its long-term business prospects.

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