U.S. semiconductor component company Broadcom Inc. announced its agreement to acquire New York-based software company CA Inc. for approximately $18.9 billion. We are affirming our 'BBB-' corporate credit rating on Broadcom and revising the outlook to stable from positive. The stable outlook reflects our expectation that Broadcom will deliver organic revenue growth in the mid-single-digits, focus on debt reduction, and manage future acquisitions and shareholder spending while keeping leverage at 2x-3x. On July 13, 2018, S&P Global Ratings affirmed its 'BBB-' corporate credit rating on Broadcom Ltd., which has become the subsidiary of the publicly traded ultimate U.S. domiciled parent company, Broadcom Inc. We have assigned a 'BBB-' corporate credit rating to the new parent company Broadcom Inc. The outlook
