Apple Business Risk ’Inconsistent’ With AA Rating, Fitch Says
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Apple Inc.’s credit risk is “inconsistent” with the double-A rating category awarded to the iPhone maker by Moody’s Investors Service and Standard & Poor’s, according to Fitch Ratings.
While Fitch hasn’t released a public grade for Apple, “inherent business risk that overshadows a significant liquidity cushion” means such a ranking would likely fall “at the highest end” of the single-A tier, Fitch analysts led by James Rizzo wrote today in a report. That’s at least three levels lower than the Aa1 rating from Moody’s and equivalent AA+ grade from S&P.