S&P corrects Peraton note to BBB

S&P Global Ratings corrected its issue-level rating on the senior unsecured notes issued by Peraton Corp.'s subsidiary Enterprise Services LLC (formerly known as Electronic Data Systems Corp.) by raising it to BBB from BBB-.

EDS had been a subsidiary of DXC Technology Co. DXC sold EDS to Perspecta Inc., which was subsequently acquired by Peraton on May 7.

On July 2, 2020, S&P lowered its issue-level rating on the notes to BBB- from BBB in conjunction with our downgrade of DXC.

At that time, the agency incorrectly listed EDS as a subsidiary of DXC because it did not incorporate the sale of EDS to Perspecta and did not incorporate the guarantee that Hewlett Packard Enterprise Co. provides to the notes. Today's rating action corrects these errors.

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