S&P might lower CA

S&P said it placed all of its ratings, including its BBB+ corporate credit rating, on CA Inc. on CreditWatch with negative implications.

The CreditWatch placement follows CA's announcement that Broadcom will acquire the company, the agency said.

Broadcom intends to fund the transaction with cash on hand and $18 billion of new debt.

S&P said it will resolve the CreditWatch status once Broadcom's acquisition of CA closes, at which time the agency will likely lower the rating on CA by no more than two notches and subsequently withdraw the ratings.

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