Rackspace Technology Global, Inc. is trying to turn itself around, but the company itself isn’t sure how quickly it will progress over the next year or so as it implements a risky new strategy, according to Moody’s Investors Service.
The information technology company is looking to provide cloud services that will potentially offer higher margins, but will take longer to sell, making revenue more variable, according to the bond grading firm. Meanwhile, it lost at least 17,000 customers in 2021, bringing the total to around 100,000.
Rackspace may well end up trying a distressed debt exchange, because its bonds …
Source link
