S&P: Analog Devices notes A-

Standard & Poor’s said it assigned an A- rating to Analog Devices Inc.’s proposed senior unsecured notes.

The company’s A- corporate credit rating is unchanged and the outlook remains stable.

The proceeds will be used for general corporate purposes, including the repurchase of common stock and refinancing of existing debt, S&P said.

The ratings reflect an expectation that the company’s good market position in the analog semiconductor segment, conservative balance sheet and consistent profitability and cash flows will enable the company to maintain strong liquidity and low leverage despite the highly competitive and cyclical industry, the agency said.

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