Comdisco Inc has been hit by IBM Corp’s mainframe fallout with Chicago agency Duff & Phelps lowering its ratings on the leaser’s debt and preferred stock, affecting some $1,380m in securities. The rating on Comdisco’s senior debt fell to Triple-B plus from Single-A minus, and preferred stock to Triple-B minus from Triple-B. Letter of credit-supported commercial paper programmes were reaffirmed at Duff One-plus. The downgrades primarily reflect a deterioration in profitability levels.
