Fitch rates Marvell Tech loans BBB-

Fitch Ratings said it affirmed the ratings for Marvell Technology Group Ltd. including the long-term issuer default rating at BBB- and revised the outlook to positive from stable.

Fitch also published the BBB- ratings on the $500 million senior unsecured revolving credit facility and $750 million senior unsecured term loan.

The agency said the ratings reflect an expectation for Marvell's credit profile to continue strengthening, driven by faster than broader market revenue growth and profit and free cash flow margin expansion.

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