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Bulletin: Applied Materials Rating Unaffected By Announcement To Acquire Varian Semiconductor
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) May 4, 2011--Standard & Poor's Ratings Services said today that its 'A-' rating and stable rating outlook on Santa Clara, Calif.-based Applied Materials Inc. would not be affected by the company's announcement that it plans to acquire Gloucester, Mass.-based Varian Semiconductor Equipment Inc. (unrated) for $4.8 billion in cash. Applied Materials is the leading supplier of semiconductor manufacturing equipment in terms of total revenues. Varian is the leading global provider of ion implantation systems--a niche market within the approximately $30 billion semiconductor equipment manufacturing sector. While we expect the acquisition to enhance Applied's existing ion implantation offerings and customer base, we continue to assess the company's business risk as satisfactory. Applied has indicated that the...
Companies mentioned in this report are: Applied Materials Inc.
Action: Bulletin
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