Moody’s confirms CACI

Moody's Investors Service said it concluded its review for downgrade of CACI International, Inc. and confirmed its ratings, including the corporate family rating of Ba2.

The outlook is stable.

The agency said the confirmation follows CACI's withdrawal of its offer to acquire all outstanding shares of CSRA, Inc. CSRA's acceptance of a competing offer prompted the withdrawal.

“The transaction would have heavily leveraged CACI and consequently put downward pressure on the rating,” Moody’s said in a news release.

The agency said CACI's corporate family rating benefits from solid credit metrics for the rating level, the presence of backlog at $10.9 billion at Dec. 31, 2017, an improved defense spending outlook and the company's good contract execution track record.

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