S&P Global has downgraded Conduent’s credit rating to ‘B’ due to slow progress in reducing its debt. The rating agency cited concerns about the company’s ability to deleverage in a challenging business environment. Conduent’s stock price dropped following the announcement. The company is working to improve its financial position amid ongoing challenges.

Read more at Investing.com: S&P Global downgrades Conduent to ’B’ on slow deleveraging