Moody’s rates Avago CFR, loans Ba1

Moody's Investors Service said it issued provisional Ba1 ratings for the corporate family and debt instruments of Avago Technologies Cayman Finance Ltd. (New Avago), a new legal entity that will issue debt to fund Avago Technologies Ltd.'s proposed acquisition of Broadcom Corp.

The existing ratings on Avago Technologies Finance Pte. Ltd. remain under review for upgrade pending the closing of the acquisition.

The ratings of New Avago are provisional ratings to reflect the uncertainty around the closing of the acquisition and the related debt issuance by New Avago, Moody’s said.

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