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Moody's reviews Oracle for upgrade


Published : Mon, 22 Jan 2007 22:52
By : Agencies
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NEW YORK (AFX) - Credit ratings agency Moody's Investors Service said Monday it placed ratings of information management software maker Oracle Corp.'s $5.9 billion in debt securities under review for a possible upgrade.

Moody's said it has placed Oracle's 'A3' senior unsecured long-term rating and 'Prime-2' short-term rating under review based on Oracle's financial results.

'The review is prompted by the continued strong financial performance of the company that includes robust top-line growth, consistent and strong profitability and cash flow generation as well as the successful integration of customer relationship management software firm, Siebel, which it acquired for $5.8 billion in early 2006,' said Moody's Senior Vice President Richard Lane.

Shares of Oracle fell 27 cents to close at $17 on the Nasdaq.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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