S&P: Seagate view to negative

S&P said it affirmed the BBB- corporate credit rating on Seagate Technology plc and revised the outlook to negative from stable.

The outlook revision reflects an expectation that the ongoing weak personal-computer market conditions and faster-than-anticipated migration to SSD storage solutions will

continue to pressure Seagate's revenues and operating margins, S&P said.

The pressure will likely result in leverage of more than 2x over the coming year, the agency said.

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