SAN FRANCISCO (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its ‘BBB-’ issue-level rating to Austin, Texas-based enterprise software company Oracle Corp. ’s proposed unsecured notes. The rating is the same as our ‘BBB-’ issuer credit rating on the company and ‘BBB-’ issue-level rating on its existing unsecured debt because there are no significant elements of subordination risk in the capital structure. Oracle intends to use the proceeds for general corporate purposes, including capital expenditure (capex) to fund its data center buildout and repayment of debt. In July 2026, we lowered our rating on Oracle to ‘BBB-’ from ‘BBB’ with a stable outlook based on its rising capex requirements, uncertain path to profitability, rapidly evolving industry and competitive
