Science Applications International Corp. Ratings Placed On CreditWatch Positive On Plan To Acquire Engility Holdings

Science Applications International Corp. (SAIC) has entered into an agreement to acquire Engility Holdings Inc. for approximately $2.5 billion. We believe the acquisition will improve the company's scale, the scope of its operations, its program and customer diversity, and its profitability, and likely offset the increased leverage from the transaction. Therefore, we placed all of our ratings on SAIC, including our 'BB' issuer credit rating, on CreditWatch with positive implications. We will meet with management and review their strategy for the acquisition as well as their financial policy moving forward. We expect to resolve the CreditWatch placements when the transaction closes. NEW YORK (S&P Global Ratings) Sept. 11, 2018-- S&P Global Ratings today placed all of its ratings on Science

...+ Science Applications International Corp. (SAIC) has entered into an agreement to acquire Engility Holdings Inc. for approximately $2.5 billion. + We believe the acquisition will improve the company's scale, the scope of its operations, its program and customer diversity, and its profitability, and likely offset the increased leverage from the transaction. + Therefore, we placed all of our ratings on SAIC, including our '##' issuer credit rating, on CreditWatch with positive implications. + We will meet with management and review their strategy for the acquisition as well as their financial policy moving forward. We expect to resolve the CreditWatch placements when the transaction closes. NEW YORK (S&P Global Ratings) Sept. 11, 2018-- S&P Global Ratings today placed all of its ratings on Science Applications International Corp. (SAIC) on CreditWatch with positive implications. The CreditWatch positive placements follow SAIC's announcement that it has entered into an agreement to acquire...

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