S&P rates Intel notes A+

S&P said it assigned its A+ issue-level rating to Intel Corp.'s new senior unsecured notes.

Intel intends to use proceeds for general corporate purposes, including refinancing upcoming maturities.

“Our A+ issuer credit rating and stable outlook on Intel are unchanged. Our ratings reflect the firm's leading scale among semiconductor manufacturers and strong profitability despite challenges to its market position and changes in its manufacturing strategy. Despite our forecast for lower free operating cash flow as the company ramps up capital investments, we still expect Intel to keep adjusted leverage below 1.5x during the next two years as it pulls back on shareholder returns,” S&P said in a press release.

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