Broadcom Inc.'s New Senior Unsecured Notes Rated 'BBB-'

NEW YORK (S&P Global Ratings) March 29, 2019--S&P Global Ratings today assigned its 'BBB-' issue-level rating to San Jose, Calif.-based Broadcom Inc.'s new senior unsecured notes. The company will use the proceeds from these notes to repay outstanding term loans. All of our other ratings on Broadcom remain unchanged. Our rating on Broadcom reflects the company's solid operating performance, its history of successfully integrating a series of transformative acquisitions, and its broad and differentiated semiconductor product portfolio, which is supported by favorable long-term end-market trends. The acquisition of CA Inc.'s enterprise software business represents a strategic shift from the firm's historic focus on semiconductors and creates uncertainty around its future growth strategies. Additionally, we believe Broadcom's acquisitions and shareholder-return plans

...NEW YORK (S&P Global Ratings) March 29, 2019--S&P Global Ratings today assigned its '###-' issue-level rating to San Jose, Calif.-based Broadcom Inc.'s new senior unsecured notes. The company will use the proceeds from these notes to repay outstanding term loans. All of our other ratings on Broadcom remain unchanged. Our rating on Broadcom reflects the company's solid operating performance, its history of successfully integrating a series of transformative acquisitions, and its broad and differentiated semiconductor product portfolio, which is supported by favorable long-term end-market trends. The acquisition of CA Inc.'s enterprise software business represents a strategic shift from the firm's historic focus on semiconductors and creates uncertainty around its future growth strategies. Additionally, we believe Broadcom's acquisitions and shareholder-return plans will be the main uses of its discretionary cash flow going forward. The current rating also reflects our expectation that the...

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