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After the disappointment on Wednesday with Mississauga and Markham voting against opening private cannabis retail stores, investors were intently watching the Toronto and Ottawa city council votes on whether to allow private cannabis retail stores to operate in their cities or not.
Moody's Investors Service ("Moody's") assigned a Baa2 rating to DXC Technology Company's proposed issuance of euro-denominated senior unsecured notes. The Baa2 senior unsecured rating reflects DXC's large size and scale, its diversified customer base, low leverage (below 2x adjusted debt to EBITDA following the separation of the U.S. public sector business), and a business model that is fairly resistant to economic cycles. DXC has a strong market position in the IT services industry (e.g., the 3rd largest global IT services firm) with a large offshore commercial business infrastructure.