LOCK - LifeLock, Inc.

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  • Moody's6 days ago

    Symantec Corporation -- Moody's confirms Symantec's Baa3 rating; outlook changed to stable

    Moody's Investors Service ("Moody's") confirmed Symantec Corporation's ("Symantec") Baa3 senior unsecured rating. Symantec's Audit Committee investigation has since concluded, annual and quarterly financial statements have been made current with the Securities and Exchange Commission and the company recently announced a revised capital allocation plan including its intention to deploy excess cash toward pre-paying a $600 million unsecured term loan due August 2019 and to an upsized $1.3 billion share repurchase authorization program. The confirmation of the Baa3 rating reflects Symantec's progress in deleveraging as well as Moody's expectation for improving revenues, operating margins and cash flow in FYE March 2020.

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