EDS set to raise $1.7B in funding

EDS set to raise $1.7B in funding

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.

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