S&P gives IBM notes A+

Standard & Poor's said it assigned its A+ senior unsecured rating to International Business Machines Corp.'s $1.5 billion of senior unsecured three-year notes.

"The rating on IBM," said S&P credit analyst Lucy Patricola, "reflects its expectation that the company's strong and broad base of technology and its expanding presence in the stable service markets will continue to support its financial strength and flexibility."

The agency said it expects the company to maintain its "Minimal" financial risk profile as it deploys its 2015 capital spending plan and continues to pursue growth objectives.

The rating incorporates an expectation that IBM will generally operate at or below debt to EBITDA of about 1.5x, with capacity to temporarily exceed the threshold for a period of 12 to 18 months, the agency noted.

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