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Fixed Income Information

Dell's Credit Ratings

(as of October 1, 2025)

Standard & Poor's

Outlook: Stable

Rating ClassRating
LT Corp FamilyBBB
Senior UnsecuredBBB
Legacy Notes*BBB

S&P Global Rating Definitions

Moody's

Outlook: Stable

Rating ClassRating
LT Corp FamilyBaa2
Senior UnsecuredBaa2
Legacy Notes*Baa3

Moody’s Rating Definitions

Fitch

Outlook: Stable

Rating ClassRating
LT Corp FamilyBBB+
Senior UnsecuredBBB+
Legacy Notes*BBB

Fitch Rating Definitions

* NOTE: Legacy notes are notes issued by Dell Inc. prior to the LBO and notes issued by EMC Corp. prior to the Dell | EMC transaction. Moody’s Legacy Notes rating only refers to the legacy Dell notes.