Fitch affirms ratings for Convergys, although outlook remains negative

Fitch affirms ratings for Convergys

NEW YORK —Fitch Ratings said on Monday it was affirming several ratings for Convergys Corp. and removing it from Rating Watch Negative. However, it said the outlook for Convergys remained negative.

Fitch left the outsourcing services firm’s long-term issuer default rating, senior unsecured revolving credit facility, and senior unsecured notes at BBB-. Its short-term issuer default rating and commercial paper were left at F3.

Fitch said the ratings cover about $600 million in debt.

Fitch said it originally placed Convergys on Rating Watch Negative in the fourth quarter of 2008 after the company said it might sell or spin off its information management business. Fitch said it removed Convergys from Ratings Watch Negative because of its belief that getting rid of the information management business in the near term “is highly unlikely due to unfavorable credit conditions and weaker telecom spending” for information management products.

Convergys shares rose 17 cents to $10.88 in afternoon trading.