Broadcom Inc.'BBB-' Corporate Rating Affirmed On Proposed $18.9 Billion Acquisition Of CA Inc.; Outlook Stable

U.S. semiconductor component company Broadcom Inc. announced its agreement to acquire New York-based software company CA Inc. for approximately $18.9 billion. We are affirming our 'BBB-' corporate credit rating on Broadcom and revising the outlook to stable from positive. The stable outlook reflects our expectation that Broadcom will deliver organic revenue growth in the mid-single-digits, focus on debt reduction, and manage future acquisitions and shareholder spending while keeping leverage at 2x-3x. NEW YORK (S&P Global Ratings) July 13, 2018--S&P Global Ratings today affirmed its 'BBB-' corporate credit rating on Broadcom Ltd., which has become the subsidiary of the publicly traded ultimate U.S. domiciled parent company, Broadcom Inc. We have assigned a 'BBB-' corporate credit rating to the new parent company

...+ U.S. semiconductor component company Broadcom Inc. announced its agreement to acquire New York-based software company CA Inc. for approximately $18.9 billion. + We are affirming our '###-' corporate credit rating on Broadcom and revising the outlook to stable from positive. + The stable outlook reflects our expectation that Broadcom will deliver organic revenue growth in the mid-single-digits, focus on debt reduction, and manage future acquisitions and shareholder spending while keeping leverage at 2x-3x. NEW YORK (S&P Global Ratings) July 13, 2018--S&P Global Ratings today affirmed its '###-' corporate credit rating on Broadcom Ltd., which has become the subsidiary of the publicly traded ultimate U.S. domiciled parent company, Broadcom Inc. We have assigned a '###-' corporate credit rating to the new parent company Broadcom Inc. The outlook is stable. Our outlook revision is based on our view that Broadcom's decision to incur a substantial amount of debt to acquire a software company...

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