Fitch revises Seagate Technology view to stable

Fitch Ratings said it affirmed the ratings for Seagate Technology plc (Seagate) and its wholly owned subsidiary, Seagate HDD Cayman, at BB+ and revised the outlook to stable from negative.

“The ratings and outlook reflect Fitch's expectations that Seagate's operating results and FCF will strengthen over the next 12-24 months, enabling the company to maintain solid credit metrics even as it continues to prioritize returning excess cash to shareholders,” Fitch said in a news release.

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