...- Cypress Semiconductor Corp. has experienced strong demand for its products across all its end markets during 2018, resulting in adjusted net leverage of about 1x. Despite the industry slowdown in the first half of 2019, we expect the company to continue to grow its industrial and automotive business and maintain leverage at current levels. - We are raising our issuer credit rating on Cypress Semiconductor to '##+' from '##'. - We are simultaneously raising our issue-level rating on the company's revolving credit facility and senior secured term loan to '###-' from '##+', and on the company's multiple convertible note tranches to '##' from '##-'. - The stable outlook reflects our expectation that Cypress will continue to benefit over the near to mid-term from strength in its connectivity and MCU businesses, resulting in leverage sustained below the 1x area and free cash flow of greater than $350 million annually....
