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09.09.2014 23:07:00
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Leidos Holdings, Inc. -- Moody's says that Leidos' goodwill impairment charge is a negative development
New York, September 09, 2014 -- Moody's Investors Service has said that the $510 million goodwill and intangible impairment charge announced today by Leidos Holdings, Inc. (Leidos, senior unsecured rating Baa3/negative outlook) reduced the Health & Engineering segment's goodwill/intangible asset balance by about half. The charge reflects a weaker long-term cash earnings expectation for significant parts of the engineering and commercial health business. For further information please see www.moodys.com.
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