Broadcom Ltd. Senior Secured Ratings Cut To 'BBB-' And Senior Unsecured Affirmed At 'BB+'; Both Off UCO On New Criteria - S&P Global Ratings’ Credit Research

Broadcom Ltd. Senior Secured Ratings Cut To 'BBB-' And Senior Unsecured Affirmed At 'BB+'; Both Off UCO On New Criteria

Broadcom Ltd. Senior Secured Ratings Cut To 'BBB-' And Senior Unsecured Affirmed At 'BB+'; Both Off UCO On New Criteria - S&P Global Ratings’ Credit Research
Broadcom Ltd. Senior Secured Ratings Cut To 'BBB-' And Senior Unsecured Affirmed At 'BB+'; Both Off UCO On New Criteria
Published Dec 19, 2016
3 pages (1076 words) — Published Dec 19, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Dec. 19, 2016--S&P Global Ratings said today that it has reviewed its recovery and issue-level ratings for Broadcom Ltd. that were labeled as "under criteria observation" (UCO) after publishing its revised recovery ratings criteria on Dec. 7, 2016. With our criteria review complete, we are removing the UCO designation from these ratings. As a result, we are lowering our ratings on Broadcom's first-lien debt to 'BBB-' from 'BBB' and affirmed our 'BB+' issue ratings on the unsecured notes. These rating actions stem solely from the application of our revised recovery criteria and do not reflect any change in our assessment of the corporate credit ratings for issuers of the affected debt issues. RELATED CRITERIA Criteria

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) Dec. 19, 2016--S&P Global Ratings said today that it has reviewed its recovery and issue-level ratings for Broadcom Ltd. that were labeled as "under criteria observation" (UCO) after publishing its revised recovery ratings criteria on Dec. 7, 2016. With our criteria review complete, we are removing the UCO designation from these ratings. As a result, we are lowering our ratings on Broadcom's first-lien debt to '###-' from '###' and affirmed our '##+' issue ratings on the unsecured notes. These rating actions stem solely from the application of our revised recovery criteria and do not reflect any change in our assessment of the corporate credit ratings for issuers of the affected debt issues. RELATED CRITERIA + Criteria - Corporates - General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 RATINGS LIST Downgraded; Recovery Rating Unchanged To From...

  
Report Type:

Ratings Action

Ticker
AVGO
Issuer
Broadcom Inc.
GICS
Semiconductors (45301020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Broadcom Ltd. Senior Secured Ratings Cut To 'BBB-' And Senior Unsecured Affirmed At 'BB+'; Both Off UCO On New Criteria" Dec 19, 2016. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Broadcom-Ltd-Senior-Secured-Ratings-Cut-To-BBB-And-Senior-Unsecured-Affirmed-At-BB-Both-Off-UCO-On-New-Criteria-1776178>
  
APA:
S&P Global Ratings’ Credit Research. (). Broadcom Ltd. Senior Secured Ratings Cut To 'BBB-' And Senior Unsecured Affirmed At 'BB+'; Both Off UCO On New Criteria Dec 19, 2016. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Broadcom-Ltd-Senior-Secured-Ratings-Cut-To-BBB-And-Senior-Unsecured-Affirmed-At-BB-Both-Off-UCO-On-New-Criteria-1776178>
  
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