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S&P rates NetApp BBB+
Standard & Poor's said it assigned its BBB+ corporate credit rating to NetApp Inc.
The agency said it also assigned its preliminary BBB+ rating to its senior unsecured WKSI shelf filing. The outlook is stable.
"Our corporate credit rating reflects NetApp's 'satisfactory' business risk position coupled with its modest financial risk profile under our criteria," said S&P credit analyst Philip Schrank in a news release.
The agency said the ratings are supported by the company's established and defensible market position, strong cash flow and consistent earnings growth.
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