(Bloomberg) — Apple Inc.’s long-term credit rating was upgraded by Moody’s Investors Service to Aaa, the highest rank possible.
“The upgrade of Apple’s rating to Aaa reflects the company’s exceptional liquidity, robust earnings that we expect will continue to grow over the next 2 to 3 years, and its very strong business profile,” Moody’s analyst Raj Joshi said in a statement Tuesday.
The iPhone maker’s financial policy of transitioning into a net cash neutral position “over time” and its capital allocations since U.S. tax reform mean it will “maintain an exceptionally strong liquidity profile over the next 3 to 5 years,” Moody’s said.
More stories like this are available on bloomberg.com
©2021 Bloomberg L.P.
