EDS set to raise $1.7B in funding
- 30 June, 2003 12:15
Electronic Data Systems has announced that it expects to raise $US1.7 billion in new funding through private debt offerings.
The deals followed decisions by two major credit-rating agencies to downgrade their ratings of the struggling IT services firm's debt.
EDS said it would also prepay $US227 million that it owed to an unidentified software vendor.