...April 6, 2020 NEW YORK (S&P Global Ratings) April 6, 2020--S&P Global Ratings today assigned its '###-' issue-level rating to San Jose, Calif.-based Broadcom Inc.'s proposed senior unsecured notes. The company will use the proceeds from these notes to repay outstanding debts. Our '###-' issuer credit rating and stable outlook on Broadcom remain unchanged. The rating reflects our expectation that the company will generate consistent EBITDA and cash flow through a period of macroeconomic weakness due to its leading positions in connectivity infrastructure markets and a high degree of recurring revenues in acquired enterprise software businesses. The stable outlook reflects our expectation that consistent cash flow from Broadcom's legacy semiconductor franchise and contribution from its recently acquired software assets will enable it to reduce leverage from a peak of about 3.3x at fiscal year end 2019. Although we believe Broadcom could further reduce debt, we expect management will remain...
