Digital Equipment Corp has not damaged its credit rating further with its plan to raise more money: Standard & Poor’s Corp affirmed its senior debt at triple-B-plus and commercial paper at A-2, saying the action reflected the company’s good overall market position, a relatively stable and profitable service revenue base representing about half of sales, and a still strong capital structure. It assigned a triple-B-minus rating to the $500m cumulative preferred stock series A Rule 415 shelf drawdown. Total debt affected is $1,500m; the ratings also reflect continuing losses for DEC through the first half of fiscal 1994 and greater uncertainty regarding the company’s performance.
