...July 8, 2024 SAN FRANCISCO (S&P Global Ratings) July 8, 2024--S&P Global Ratings today assigned its '###' issue-level rating to Palo Alto, Calif.-based semiconductor and software solutions provider Broadcom Inc.'s proposed senior unsecured notes. The firm intends to use the proceeds from these notes to repay a portion of its outstanding senior term loans while employing the remainder for general corporate purposes. Our '###' issuer credit rating and stable outlook on Broadcom are unchanged. The company's product diversity across the various semiconductor and software end markets, exposure to AI tailwinds, and strong operating efficiencies have supported solid financial results since we upgraded it in November 2023. For example, Broadcom reported solid second-quarter 2024 numbers, including a 43% year-over-year rise in its total revenue to $12.5 billion. Excluding VMware (acquired late last year), the company expanded its organic revenue by a strong 12% year over year during the quarter,...
