Seagate HDD Cayman -- Moody's assigns Ba1 rating to Seagate note offering

New York, May 15, 2013 -- Moody's Investors Service, ("Moody's") assigned a Ba1 rating to Seagate HDD Cayman's $1 billion senior unsecured note offering. The net proceeds from the offering will be used for general corporate purposes, including prefunding the partial redemption of the company's senior unsecured notes. Moody's also affirmed Seagate Technology HDD Holdings' (Seagate) Ba1 corporate family rating (CFR), the Ba1-PD probability of default rating. Seagate's speculative grade liquidity rating was also affirmed at SGL-1, indicating very good liquidity. The rating outlook is stable.

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