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Moody's lowers SAIC to Baa2
Moody's Investors Service said it lowered the senior unsecured rating of SAIC, Inc. to Baa2 from A3, reflecting higher financial leverage that will follow the pending spin-off of SAIC Gemini, Inc.
The agency said that beyond higher leverage, a more aggressive capital deployment strategy toward dividends and stock repurchases, as well as pressure from U.S. fiscal austerity on operating performance drove the rating change.
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