Moody's upgrades CA senior unsecured debt ratings

Moody's Investors Service upgraded the senior unsecured debt ratings it holds for information technology management software company CA Inc. to "Baa3" from "Ba1" Monday.

Moody's said the change was due to CA's "consistent operating performance" and the ratings service's feeling that the company's management and board has "sufficiently conservative financial policies" to keep up an investment-grade rating.

Moody's said that during a four-year overhaul, the company has managed to keep revenue growing and margins improving.

"CA's strong market position in numerous segments of the IT management software industry, high level of recurring revenues and growing demand for security, governance and management software combined with modest leverage support a rating in the Baa category," Moody's said.

Moody's said its ratings outlook is "stable."