Tags: US | Dell | Fitch

Fitch Says Dell Rating Unaffected by 3Par Buyout

Tuesday, 17 Aug 2010 03:03 PM

Fitch Ratings said Tuesday Dell Inc.'s ratings are unaffected by the company's proposed acquisition of 3Par Inc.

Dell is buying the data storage provider for $1.13 billion. Fitch expects the acquisition to be funded entirely with cash on hand.

The ratings agency said the planned acquisition, which is expected to close in the fourth quarter, is "consistent with Dell's strategy to diversify and transform its revenue mix toward" higher-margin offerings for large businesses.

Fitch currently has a long-term issuer default rating of "A" on Dell.

Shares of Dell rose 16 cents to $12.12 in afternoon trading.

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Fitch Ratings said Tuesday Dell Inc.'s ratings are unaffected by the company's proposed acquisition of 3Par Inc.Dell is buying the data storage provider for $1.13 billion. Fitch expects the acquisition to be funded entirely with cash on hand.The ratings agency said the...
US,Dell,Fitch
96
2010-03-17
Tuesday, 17 Aug 2010 03:03 PM
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