Moody's: Dell unaffected

Moody's Investors Service said that Dell Inc.'s announcement that its board authorized an additional $5 billion stock repurchase plan will not impact the company's A2 senior unsecured credit rating and stable outlook.

Dell announced that its board authorized an additional $5 billion in addition to the $2.2 billion that remained under its share repurchase program as of the end of July 2011.

Moody's said that the agency believes Dell's share repurchase activity, $1.9 billion over the last year, will be executed over the next year well within the company's free cash flow generation, about $4.5 billion, and that balance sheet liquidity will remain robust over this time period.

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