Moody's lowers Texas Instruments outlook to stable

Moody's Investors Service said it revised Texas Instruments, Inc.'s outlook to stable from positive and affirmed its Ba3 corporate family and senior unsecured ratings.

The change in outlook reflects the severe downturn in the company's residential construction markets and what Moody's said it believes will be weakness in the company's non-residential and public infrastructure construction segments as the U.S. economy goes through a difficult period.

Mitigating this situation somewhat are margin and volume gains that will be achieved when Texas Instruments has its new Oro Grande, Calif., cement plant fully operational, which is expected to occur in June of this year, the agency noted.

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