Standard & Poor's sets CA Inc. outlook at positive
Standard & Poor's Ratings Services raised its outlook on business management software company CA Inc. Friday, saying its revenue growth outlook has improved.
The firm said CA has a large customer base and its growth prospects are getting better. It raised its outlook to "positive" from "stable," and maintained an investment grade "BBB" rating. It said the Islandia, N.Y., company has good profitability and spending on information technology is improving.
CA reported its fiscal fourth-quarter results on Thursday. Its profit fell short of Wall Street estimates, and revenue was about equal to expectations.
Its shares declined $1.56, or 7 percent, to $20.32 in afternoon trading.