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AMI Semiconductor Inc. Placed on CreditWatch Negative, Acquiring Alcatel's ASIC Business Apr 02
Standard & Poors, April 2002
Abstract
NEW YORK (Standard & Poor's) April 16, 2002--Standard & Poor's said today that it placed its double-'B'-minus corporate credit rating on AMI Semiconductor Inc. on CreditWatch with negative implications. The action reflects Standard & Poor's belief that AMI may finance an acquisition with debt, leading to deterioration in credit-protection measures amid persistently poor industry conditions. Pocatello, Idaho-based AMI supplies customized semiconductor chips for industrial, communications, military, and other applications. AMI has agreed to acquire Alcatel's mixed-signal application-specific integrated circuits (ASICs) business from STMicroelectronics N.V. (A-/Stable/A-2), which has purchased Alcatel's entire semiconductor business. While the acquisition is expected to enhance AMI's mixed-signal process technology and market position, as well as add $100 million in sales, possible debt financing for the undisclosed...
Companies mentioned in this report are: AMI Semiconductor Inc.,Alcatel-Lucent,STMicroelectronics N.V.
Action: On CreditWatch:Negative
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.
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