Moody's cuts Computer Sciences

Moody's Investors Service said it downgraded Computer Sciences Corp.'s senior unsecured rating to Baa2 from Baa1 and confirmed its short term rating at Prime-2.

The agency said this rating action concludes the review initiated on Dec. 27.

The outlook is stable.

"The downgrade to Baa2 reflects our view that given the myriad of issues facing CSC, the company's business and credit profile will likely be challenged until 2014 with flat revenue growth and operating margins only in the mid-single digit range," said Stephen Sohn, Moody's senior credit officer, in a news release.

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