Fitch affirms Oracle

Fitch Ratings said it has affirmed the ratings of Oracle Corp., following the announcement that Oracle will purchase Sun Microsystems (BBB-, rating watch positive).

The agency said that the ratings are affirmed as follows: issuer default rating at A; senior unsecured debt at A; short-term issuer default rating at F1; and commercial Paper at F1.

The outlook is stable.

The affirmation follows the announcement that Oracle will purchase Sun, for about $8.7 billion, including $1.3 billion of assumed debt, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.