Research Update: Cirrus Logic Inc. Upgraded To 'B+' On Expected Continued Revenue Growth, Low Leverage May 11
- ID: 1806081
- May 2011
- Standard & Poors
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.
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