S&P: Seagate outlook stable

Standard & Poor's said it revised its outlook on Seagate Technology to stable from negative, reflecting recent stronger operating results, and affirmed the ratings on the company, including the BB- corporate credit rating.

The agency said the ratings on Seagate reflect volatile industry dynamics in the hard-drive industry, including periods of aggressive product pricing and excess supply, substantial competition and a high degree of product-cycle risk.

Offsets include the company's strong overall competitive standing, good liquidity and moderate leverage for the rating, S&P added.

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