Comdisco Inc, Rosemount, Illinois is causing Standard & Poor’s Corp concern. The ratings agency, as reported briefly on Friday, has affirmed its ratings of Trible-B-Plus on Comdisco’s senior debt and Trible-B on subordinated debt, but its rating outlook is now negative, where it had been stable. About $1,000m of long-term debt is affected. The rating affirmation reflects Comdisco’s strong market position as a major equipment lessor, Standard & Poor’s says, saying that its worries are a direct function of a weak US economy and the rise in corporate bankruptcies. Profitability… is still healthy, but has declined, primarily as a result of pressures on the leasing and remarketing margins, noting that the company has moved to cut costs and improve efficiencies. The New York rating agency also notes that the IBM Corp lawsuits were definite setbacks to the company’s forward momentum.
