We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
Seagate Upgraded to Ba1 by Moody’s
August 31, 2026
-Ritish G
Seagate Data Storage Technology was upgraded by a notch to Ba1 from Ba2 by Moody’s. The upgrade reflects stronger revenue and profitability prospects, driven by robust AI-related demand for high-capacity hard disk drives. Seagate has revenue visibility through 2027, with nearline HDD capacity already allocated to customers. Moody’s expects revenue to grow by more than 30% annually over the next 12–18 months, helping reduce debt-to-EBITDA to below 0.5x from 0.9x. Free cash flow is also expected to exceed $4bn annually. Seagate had $1.7bn of cash as of July 2026 and full access to its $1.3bn revolving credit facility. However, the company remains exposed to demand volatility, flash-memory substitution and customer concentration in the hyperscale cloud market.
Seagate’s bonds traded stable with its 5.75% 2034 at 95.08, yielding 6.53%
Go back to Latest bond Market News
Related Posts:
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.