Moody’s Ratings said on Tuesday that it is looking at upgrading Xerox’s credit grades, citing the company’s agreement to buy Lexmark International Inc., a step that will ultimately help improve key measures of the company’s debt load and cash flow.

An acquisition of closely held Lexmark was announced Monday, confirming an earlier report from The Wall Street Journal. Xerox’s takeover of the business would bring

Xerox Holdings Corp. today announced plans to buy Lexmark International Inc., one of its main competitors in the printer market, for $1.53 billion. The company plans to finance the deal with a combination of cash and debt financing. It’s buying Lexmark from Ninestar Corp., PAG Asia Capital and Shanghai Shouda Investment Centre.

Office equipment manufacturer Xerox has agreed to buy Chinese-owned printer and printing software maker Lexmark International in a $1.5 billion deal to expand its presence in Asian markets and better compete in an industry upended by the digital age.

Xerox Holdings Corporation announced Monday it would acquire the Lexington-based Lexmark International in a deal worth $1.5 billion. Lexmark is a Lexington-based manufacturer of laser printers and imaging products. The company has operated since March 1991.

Xerox's acquisition of Lexmark for $1.5B aims to enhance market position and potential for APAC expansion despite current financial struggles. Read my XRX analysis.

Xerox said it has struck a deal to buy rival, partner and supplier Lexmark for $1.5 billion in a blockbuster print deal.

Xerox made a calculated strategic move with the acquisition to improve its standing in the global printing market, particularly in Asia and Latin America.

Xerox To Buy Lexmark