S&P cuts IBM debt rating following Red Hat acquisition
https://phys.org/news/2018-10-sp-ibm-debt-red-hat.html
"The rating downgrade reflects prospective changes in IBM's debt leverage," S&P said in a statement. "IBM will issue substantial debt to fund the acquisition of Red Hat."
The computing giant could face another downgrade if it underperforms the expected low single-digit growth in revenues.