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Research Update: Cirrus Logic Inc. Upgraded To 'B+' On Expected Continued Revenue Growth, Low Leverage May 11 Product Image

Research Update: Cirrus Logic Inc. Upgraded To 'B+' On Expected Continued Revenue Growth, Low Leverage May 11

  • ID: 1806081
  • May 2011
  • Standard & Poors

Abstract
U.S. fabless semiconductor provider Cirrus Logic maintains steady operating performance and strong credit statistics relative to its rating level. We are raising our corporate credit rating on Cirrus to 'B+' from 'B'. The stable rating outlook reflects our expectation that Cirrus will continue to generate good profitability and maintain low leverage through the end of 2011. On May 26, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on Austin, Texas-based semiconductor provider Cirrus Logic Inc. to 'B+' from 'B'. The outlook is stable. Standard & Poor's expects Cirrus to continue to generate revenue growth and good margins through the second half of 2011, reflecting the strength of its portable audio products and reliance on Apple Inc., which...

Companies mentioned in this report are: Cirrus Logic Inc.
Action: Upgraded

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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