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NEW YORK - Fitch Ratings on Tuesday placed Convergys Corp. on a negative rating watch, citing the outsourcing company's decision to consider separating its information management business into its own publicly traded company.
| CVG | 5.62 |  -0.67 |
The ratings firm said it expects Convergys will have to renegotiate the terms of a $400 million credit facility and redeem senior notes due next year before it can complete any spin-off of its business units.
Cincinnati-based Convergys offers call-center, billing and employee care outsourcing.
Earlier Tuesday, the company said its board of directors and senior management team are considering separating its business divisions in a bid to boost each unit's competitive position.
The company said it expects to make a decision in the fourth quarter.
Fitch said it expects the resolution of its rating outlook will follow the conclusion of Convergys' review.
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