SAN FRANCISCO (Standard&Poor's) Nov. 9, 2015--Standard&Poor's Ratings Services assigned its 'BB-' corporate credit rating to San Jose, Calif.-based Cypress Semiconductor Corp. (Cypress). The outlook is stable. At the same time, we assigned a 'BB' issue-level rating to the company's proposed $400 million senior secured term loan due 2022 and existing $450 million revolving credit facility due 2020. The '2' recovery rating on these instruments indicates our expectation for substantial (70% to 90%, at the higher end of the range) recovery of principal in the event of payment default. We also assigned a 'B' issue-level rating to the company's existing $150 million convertible notes due 2020. The '6' recovery rating on the notes indicates our expectation for
