Unisys Unravels on Moody's 'Bottom Rung' Report

Unisys shares fall further following a report that the company was to wind up on Moody's list of companies it deems most likely to default.
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SAN FRANCISCO -- As low as they already are, shares of

Unisys

(UIS) - Get Report

ticked another step closer to zero following a report that the company was to wind up on a

new list of firms

most likely to default on their debt.

As the

Wall Street Journal

reported Tuesday,

Moody's

(MCO) - Get Report

Investors Service is expected to publish the "Bottom Rung," which includes 283 companies, or roughly the riskiest 15% of companies that Moody's tracks.

Not surprisingly, the prominent names on the list includes automakers

General Motors

(GM) - Get Report

and

Chrysler

, as well as casino player

MGM Mirage

(MGM) - Get Report

.

Unisys shares were down 3 cents to 30 cents. The tech services firm's stock has fallen throughout the past six months as the company looks to slash costs after several consecutive quarters of red ink.