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Fitch boosts CA
Fitch Ratings said it upgraded CA, Inc.'s issuer default rating to BBB+ from BBB, senior unsecured revolving credit facility to BBB+ from BBB and senior unsecured notes to BBB+ from BBB.
The outlook is stable.
The upgrade reflects an increased confidence in CA's operating profile and recognition of the company's conservative financial policies and expectations for solid credit protection measures over the intermediate term, Fitch said.
The agency said it expects the company's operating performance will modestly improve driven by positive revenue growth and the benefits from restructuring actions taken over the past few years.
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