Fitch cuts Perspecta, pulls ratings

Fitch Ratings said it downgraded Perspecta Inc.'s long-term issuer default rating to B from BB with a stable outlook, resolving the rating watch negative, and withdrew it and the BB+/RR1 senior first-lien secured revolving credit facility and term loan ratings, which were terminated on Thursday in conjunction with the completion of its acquisition by Peraton Holding Corp.

Fitch also affirmed Perspecta Enterprise Solutions LLC's notes, which continue to benefit from a guarantee for any principal and interest from HP Inc., which is rated BBB+.

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