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S&P lifts Electronic Arts
S&P said it raised its corporate credit rating on Electronic Arts Inc. to BBB+ from BBB.
The outlook is stable.
At the same time, the agency raised its issue-level rating on the company's senior unsecured notes to BBB+ from BBB.
S&P said the upgrade is based on an expectation that the company’s leverage will remain low in 2018 and 2019, supported by continued growth in its key franchise titles and live services revenue, strong cash flow generation and conservative financial policy.
“Due to the recent U.S. tax reform, the company will be able to repatriate cash to the U.S. more efficiently,” the agency said in a news release.
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