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Dell Inc. -- Moody's says Dell's upsized offer for Class V stock has no effect on ratings

Moody's Investors Service said that based on the terms of Dell Technologies, Inc's ("Dell") revised offer to buy out its class V common stock, we do not expect the transaction to affect the credit ratings of Dell Inc. and its subsidiaries, including the Ba1 corporate family rating, the Baa3 senior secured rating and the Ba2 senior unsecured rating, or the stable outlook. Dell Technologies, the parent of Dell Inc., said today that it plans to issue $5 billion in debt to help fund its previously announced plans to buy out its Class V common stock, a tracking stock for Dell subsidiary VMware, Inc. ("VMWare") (Baa2 stable). Under the transaction announced in July, Dell is offering to swap the VMware tracking stock for Dell's Class C common stock or cash.