S&P rates Fortinet notes BBB+

S&P said it assigned its BBB+ issue-level rating to Fortinet Inc.’s planned senior unsecured notes.

“Our issuer credit rating on Fortinet remains BBB+, with a stable outlook. The rating reflects the company’s substantial track record of technology leadership in network security, sizable and growing recurring revenue base, and conservative balance sheet,” the agency said in a press release.

The company will use the proceeds for general corporate purposes.

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