Moody’s revises IBM to negative

Moody's Investors Service said it affirmed the senior unsecured rating of International Business Machines Corp. (IBM) at Aa3 and changed the outlook to negative from stable.

Despite still solid debt protection measures "the outlook change reflects concerns that IBM will remain challenged to grow revenue and profitability as it continues to transition its portfolio toward what it expects will be higher value added offerings, as embodied by the company's portfolio of data analytics and cloud-based offerings," Moody's senior vice president Richard Lane said in a news release.

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