Moody's: IBM unchanged

Moody's said that International Business Machines Corp.'s senior unsecured debt rating of A1 and Prime-1 short-term rating will not be affected by the company's announcement that its board has authorized an incremental $3 billion to its remaining $3.7 billion share buyback program and that it has increased its annual common dividend by 10%.

"The rating remains supported by IBM's diversified, leading and defensible market positions in a range of information-technology products, software, and services, in addition to its solid and consistent, earnings and operating cash flow, all of which contribute to expectations of continued strong debt protection measures and an excellent liquidity profile," said Moody's senior vice president, Richard Lane.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.