S&P assigns Workday BBB

S&P said it assigned a BBB issuer rating to Workday Inc.

“We view Workday Inc. as a solid provider of enterprise resource planning (ERP) software applications, which is supported by its leading position in human capital management (HCM), growing presence in the financial management markets, and significant organic revenue and EBITDA growth at scale over the last few years,” the agency said in a press release.

“Our rating also reflects the potential that the company may undertake sizeable acquisitions that materially increase its leverage,” S&P added.

The outlook is stable.

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