Moody's: SAIC's A3 unaffected

Moody's Investors Service said that SAIC Inc.'s A3 long term rating is not affected following the company's announcement that it reached a settlement with the U.S. Attorney's Office for the Southern District of New York and the City of New York relating to investigations surrounding an automated time and attendance and workforce management system that SAIC developed and implemented for certain City agencies.

The outlook is stable.

Nonetheless, this is a negative development for SAIC, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.