S&P rates Analog notes A-

S&P said it rated Analog Devices Inc.’s Maxim Integrated Products Inc. exchange notes due 2027 and proposed senior unsecured notes due 2032.

The company is offering to exchange all outstanding senior notes due 2027 issued by its subsidiary Maxim, notes with equivalent economics issued by Analog Devices plus cash.

It will use the proceeds of the 2032 notes for general corporate purposes.

“Our A- issuer credit rating and stable outlook on Analog Devices is unchanged,” S&P said in a press release.

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