Fitch assigns A+ to IBM notes

Fitch Ratings said it assigned an A+ rating to International Business Machines Corp.’s (IBM) £300 million 2.625% seven-year senior notes issuance.

The action affects about $49 billion of debt, including IBM's undrawn $10 billion credit facility.

Fitch said the ratings and outlook reflect its continued expectations for stabilizing operating trends, including the resumption of positive organic revenue growth in the intermediate-term. IBM's investments in strategic imperatives (data, cloud and engagement) should drive double-digit growth and achieve sufficient scale in these markets and begin to offset long-term secular decline in legacy information technology demand.

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