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S&P downgrades Leidos to BBB-
Standard & Poor's said it lowered its ratings on Leidos Holdings Inc., including the corporate credit rating, to BBB- from BBB.
The outlook is stable.
"The downgrade reflects our view that credit metrics, which are weaker than we previously expected, are unlikely to improve significantly over the next two years due to pressure on U.S. defense and intelligence spending," S&P credit analyst Chris Mooney said in a news release.
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