Science Applications International Corp. Outlook Revised To Negative On Increased Leverage From Proposed Acquisition - S&P Global Ratings’ Credit Research

Science Applications International Corp. Outlook Revised To Negative On Increased Leverage From Proposed Acquisition

Science Applications International Corp. Outlook Revised To Negative On Increased Leverage From Proposed Acquisition - S&P Global Ratings’ Credit Research
Science Applications International Corp. Outlook Revised To Negative On Increased Leverage From Proposed Acquisition
Published Feb 07, 2020
3 pages (1645 words) — Published Feb 07, 2020
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About This Report

  
Abstract:

Reston, Va.-based government services and information technology (IT) provider Science Applications International Corp. (SAIC) announced that it is acquiring Unisys Federal from Unisys Corp. for $1.2 billion. The company plans to finance most of the purchase price with debt, which will significantly increase its leverage. We are revising our outlook on SAIC to negative from stable and are affirming our 'BB+' issuer credit rating on the company. At the same time, we are affirming our 'BB+' issue-level rating on the company's first-lien credit facility. This affirmation is based on our understanding of its capital structure pro forma for the acquisition. The '3' recovery rating remains unchanged. The negative outlook reflects that SAIC's leverage will increase due to the transaction and

  
Report Type:

Ratings Action

Issuer
Science Applications International Corporation
GICS
IT Consulting & Other Services (45102010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Science Applications International Corp. Outlook Revised To Negative On Increased Leverage From Proposed Acquisition" Feb 07, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Science-Applications-International-Corp-Outlook-Revised-To-Negative-On-Increased-Leverage-From-Proposed-Acquisition-2379608>
  
APA:
S&P Global Ratings’ Credit Research. (). Science Applications International Corp. Outlook Revised To Negative On Increased Leverage From Proposed Acquisition Feb 07, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Science-Applications-International-Corp-Outlook-Revised-To-Negative-On-Increased-Leverage-From-Proposed-Acquisition-2379608>
  
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