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S&P ups Red Hat to BB+ on steady revenue

Posted on: Wed, 11 Nov 2009 09:18:00 EST

Symbols: RHT

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Nov 11, 2009 (M2 EQUITYBITES via COMTEX) --
RHT | Quote | Chart | News | PowerRating -- 11 November 2009 AcaeaEURoe S&P on Tuesday lifted by one notch to BB+ its
corporate credit rating on US software firm Red Hat Inc (NYSE:RHT),
citing its consistent revenue growth and considerable debt capacity at
the current rating level.

The outlook is "stable".

The BB+ rating is limited by the company's narrow business focus,
intense competition and rapid technology evolution. These concerns are
somewhat mitigated by good liquidity, a strong balance sheet and cash
flow as well as by barriers to entry provided by Red Hat-certified
software and hardware dealers.

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