S&P ups Computer Sciences

Standard & Poor's said it raised its corporate credit rating on Computer Sciences Corp. to BBB+ from BBB. The outlook is stable.

S&P also raised the ratings on the company's senior unsecured debt and affirmed the A-2 commercial paper rating.

"We base our upgrade primarily on our expectation that CSC's cash flow and leverage metrics will remain solidly within the range for its 'modest' financial risk profile, with adequate headroom to make moderate acquisitions to expand its technology portfolio or client footprint in conjunction with moderate shareholder return initiatives," said S&P credit analyst Phil Schrank in a news release.

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