Moody's assigns Broadcom notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Broadcom Inc.'s new senior unsecured notes, which are being issued in connection with its debt exchange for specific outstanding notes.

The agency affirmed Broadcom’s Baa3 senior unsecured rating in June.

“The exchange offer, which will extend medium-term debt maturities, will be leverage neutral,” Moody’s said in a press release.

The outlook is stable.

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