S&P puts Symantec on watch

S&P Global Ratings said it placed its BBB- corporate credit rating on Symantec Corp., and the issue ratings on Symantec's debt, on CreditWatch with negative implications.

“The CreditWatch placement follows Symantec's announcement that it plans to acquire identity protection services provider LifeLock for $2.3 billion, funded with $1.5 billion of balance sheet cash and $750 million of incremental debt,” said S&P credit analyst James Thomas in a news release.

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