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S&P: Conexant unaffected
Standard & Poor's said ratings on Conexant Systems Inc. (B-/stable) are not affected by the company's notification that its stock will be delisted from Nasdaq Stock Market Inc. if its per-share value should fail to exceed $1.00 for a period of 10 consecutive days prior to July 28.
S&P said ratings are unaffected because the company's plan to execute a reverse stock split shortly after its annual shareholders meeting to be held on Feb 20 should result in a stock price above the $1.00 threshold.
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