- Published: May 2012
- Region: United States
Research Update: Intersil Outlook Revised To Positive On Sustained Lower Leverage; New Senior Secured Credit Facility Rated 'BB+' Sep 11
- Published: September 2011
- Standard & Poors
U.S. analog semiconductor manufacturer Intersil has modestly improved its financial risk profile through stable EBITDA generation since the acquisition of Techwell Inc. in 2010. We are revising our 'BB-' rating outlook on the company to positive from stable. We are also assigning a 'BB+' issue rating to the new $325 million senior secured credit facility, with a recovery rating of '1'. The positive rating outlook reflects the potential for an upgrade if Intersil can sustain leverage below 3x over the next several quarters while generating positive discretionary cash flow. On Sept. 30, 2011, Standard & Poor's Ratings Services revised its rating outlook on Milpitas, Calif.-based Intersil Corp. to positive from stable. At the same time, we affirmed our existing 'BB-'...
Companies mentioned in this report are: Intersil Corp.
Action: New Rating
Action: Outlook: Positive
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.
SHOW LESS READ MORE >