Santa Clara, Calif.-based Sun Microsystems Inc. ratings remain on CreditWatch with positive implications. The CreditWatch followed the announced $7.4 billion acquisition of Sun by Redwood Shores, Calif.-based Oracle Corp. (A/Stable/A-1). Net of Sun's cash and debt, the transaction is valued at $5.6 billion. Standard&Poor's Ratings Services expects the transaction to close, pending regulatory approval. If Sun's rated debt remains outstanding, we will likely equalize the ratings with those for Oracle.