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January 4, 1987

WANG DEBT ON WATCH AT STANDARD & POOR’s

By CBR Staff Writer

Standard & Poor’s has put $250m of debt of Wang Laboratories and two of its units on its CreditWatch list, with negative implications, citing strong indications that industry demand for computer systems in 1987 won’t significantly improve from present weak levels, as well as the $30m net loss in its first quarter, as the reason for the review. The securities being examined include Wang Labs’ and Wang Labs NV’s triple-B-rated subordinated debt and the A-2-rated commercial paper of Wang Labs and Wang Credit Corp. The New York credit rating agency stated ominously that Wang’s ratings could fall into the speculative grade categories if no 1987 improvements from recent losses are foreseen. The announcement came only days after the other major agency, Moody’s Investors Service, reduced its ratings on Wang’s debt.

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