Science Applications International Corp. Ratings Affirmed At 'BB'; Outlook Stable

Science Applications International Corp. (SAIC) continues to win business in a highly competitive industry while gradually improving credit ratios. We affirmed our 'BB' corporate credit and issue-level ratings on SAIC. The stable outlook reflects our belief that although the company's credit ratios will improve in fiscal year 2019 because of improved earnings and debt repayments, the company's debt leverage will likely increase if an acquisition opportunity arises. NEW YORK (S&P Global Ratings) April 24, 2018-- S&P Global Ratings today affirmed its 'BB' corporate credit rating on Science Applications International Corporation. (SAIC). The outlook is stable. At the same time, we affirmed our 'BB' issue-level rating and '3' recovery rating on the company's first-lien credit facilities. The '3' recovery rating indicates

...+ Science Applications International Corp. (SAIC) continues to win business in a highly competitive industry while gradually improving credit ratios. + We affirmed our '##' corporate credit and issue-level ratings on SAIC. + The stable outlook reflects our belief that although the company's credit ratios will improve in fiscal year 2019 because of improved earnings and debt repayments, the company's debt leverage will likely increase if an acquisition opportunity arises. NEW YORK (S&P Global Ratings) April 24, 2018-- S&P Global Ratings today affirmed its '##' corporate credit rating on Science Applications International Corporation. (SAIC). The outlook is stable. At the same time, we affirmed our '##' issue-level rating and '3' recovery rating on the company's first-lien credit facilities. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in a default scenario. The rating reflects the company's unique products and services in the...

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