S&P raises Analog Devices

Standard & Poor's said it raised its long-term corporate credit and senior unsecured ratings on Analog Devices Inc. to A- from BBB+.

The agency said that it also affirmed its A-2 commercial paper rating.

The outlook is stable.

"Our A- corporate credit rating on Analog Devices reflects its expectation that its good market position in the analog semiconductor segment, conservative balance sheet, and consistent profitability and cash flows will enable the company to maintain strong liquidity and low leverage despite a highly competitive and cyclical industry," said S&P credit analyst Lucy Patricola.

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