Fixed Income Information

Dell's Credit Ratings

(as of June 10, 2019)

Standard & Poor's

Outlook: Stable

Rating Class Rating
LT Corp Family BB+
Senior Unsecured BB
Senior Secured BBB-
Legacy Notes* BB-
S&P Global Rating Definitions

Moody's

Outlook: Stable

Rating Class Rating
LT Corp Family Ba1
Senior Unsecured Ba2
Senior Secured Baa3
Legacy Notes* Ba2
Moody’s Rating Definitions

Fitch

Outlook: Stable

Rating Class Rating
LT Corp Family BB+
Senior Unsecured BB+
Senior Secured BBB-
Legacy Notes* BB
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.