Fitch upgrades Dell to BB

Fitch Ratings said it upgraded the long-term issuer default rating of Dell, Inc. and its direct wholly owned subsidiary, Dell International Inc., to BB from BB-.

The outlook was revised to positive from stable.

Fitch said the ratings and outlook reflect Dell’s use of free cash flow to repay debt and Fitch's expectations for core leverage to fall below 3 times by the end of fiscal 2015 (Jan. 31, 2015). Fitch estimates Dell will have reduced core debt (excluding debt related to financing activities) by $3.3 billion during fiscal 2015.

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