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Broadcom Corp. 'A-' Rating Affirmed After Acquisition Of NetLogic Announced Sep 11
Standard & Poors, Sep 2011
Abstract
On Sept. 12, 2011, Irvine, Calif.-based communications semiconductor supplier Broadcom announced it had reached an agreement to acquire Santa Clara, Calif.-based NetLogic Microsystems Inc. (unrated) in a deal valued at $3.7 billion. Broadcom intends to fund the transaction primarily with expected accrual of cash resources by the transaction's close in the first half of 2012. We are affirming our 'A-' corporate credit rating on Broadcom and the company's senior unsecured notes. The stable outlook primarily reflects Broadcom's minimal expected leverage under various funding mixes and strong free operating cash flows, which provide a source to rebuild cash balances. NEW YORK (Standard & Poor's) Sept. 14, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'A-' corporate credit rating...
Companies mentioned in this report are: Broadcom Corp.
Action: Affirmed
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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