Fitch: EDS debt on watch

Fitch Ratings said it placed Electronic Data Systems Corp.'s BBB- senior unsecured debt on Rating Watch negative.

Fitch said the action follows the company's announcement that it will postpone third-quarter earnings for a second time.

Additionally, Fitch said EDS disclosed that its audit committee has commenced an internal investigation regarding quarterly bonus plan accruals and other adjustments, potentially requiring financial restatements for 2003 and 2004.

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