NEW YORK (Standard&Poor's) April 20, 2009--Standard&Poor's Ratings Services said today that it revised its CreditWatch listing, including that for its 'BB+' corporate credit rating, on Santa Clara, Calif.-based Sun Microsystems Inc. to CreditWatch with positive implications from CreditWatch with developing implications. "The CreditWatch revision follows the announced $7.4 billion acquisition of Sun by Redwood Shores, Calif.-based Oracle Corp. (A/Stable/A-1)," said Standard&Poor's credit analyst Philip Schrank. Net of Sun's cash and debt, the transaction is valued at $5.6 billion. The transaction is expected to close this summer, pending regulatory approval. If Sun's rated debt remains outstanding, we will likely equalize the ratings with those for Oracle.
