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Unisys(UIS Quote) called a timeout on Friday in its struggle to get out from under $759 million in long-term debt. Until the firm cleans up its balance sheet and the information-technology market picks up, its fate is uncertain.
On Friday, the company said it was able to extend its deadline for refinancing a chunk of loans to June 12 from May 31. The company wants to exchange notes set to expire between 2010 and 2015 for new 12.625% notes due in 2014 to maintain an important source of credit.
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