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S&P rates Oracle notes A
Standard & Poor's said it assigned an A rating on Oracle Corp.'s $5 billion senior unsecured notes, comprising $1.25 billion 4.95% notes due 2013, $2.5 billion 5¾% notes due 2018 and $1.25 billion 6½% notes due 2038. The corporate credit rating was affirmed at A.
The outlook is stable.
Proceeds will be used to help fund the acquisition of BEA Systems Inc.
Ratings reflect the company's very strong earnings and cash flow protection levels, ample liquidity that incorporates risks associated with product and technology transitions, and aggressive competition, the agency said.
Oracle has reduced its total debt-to-EBITDA ratio to somewhat more than 1 times, S&P said.
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