Fitch upgrades software maker CA’s credit rating on revenue growth, ‘conservative’ policies

Fitch upgrades ratings on software maker CA

CHICAGO — Fitch Ratings said Thursday it upgraded credit ratings on business management software provider CA Inc., citing the company’s “conservative” financial policies and growing revenue.

CA’s financial results have been improving as businesses spend more on information technology coming out of the recession.

Fitch lifted its overall rating for CA as well as ratings on an unsecured credit line and bonds to “BBB+” from “BBB,” one notch further into investment-grade territory. The new rating is seven notches below the top triple-A rating.

An upgrade from one of the credit rating agencies can potentially lower a company’s borrowing costs.

CA shares fell 37 cents, or 2 percent, to $18.03 in afternoon trading.