S&P assigns Broadcom notes A-

Standard & Poor's said it assigned its A- issue rating to Broadcom Corp.'s proposed $500 million seven-year senior unsecured notes.

The notes were issued to support its purchase of NetLogic Microsystems Inc. in a deal valued at $3.7 billion, according to an S&P news release. Broadcom intends to fund the remainder of the transaction with cash on hand and the expected accrual of cash resources by the transaction's close in the first half of 2012, the release stated.

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