Oracle Corp. continues to generate very high profit margins and strong free operating cash flow (FOCF) despite competitive pressures and evolving technology trends. We continue to assess Oracle's financial risk profile as "minimal" given its strong credit metrics and exceptional liquidity. However, we revised our financial policy modifier to "neutral" from "negative" reflecting our belief that Oracle has sufficient financial capacity to meet its growth and shareholder return objectives without impairing its financial risk profile. We are raising our corporate credit rating on Oracle to 'AA-' from 'A+' as a result. The stable outlook reflects our expectation that Oracle will adhere to financial policies supportive of a "minimal" financial risk profile, supported by a strong market position and consistently strong
