S&P Global Ratings assigned its 'B+' issue-level rating to Cypress Semiconductor Corp.'s proposed $150 million convertible notes due 2023. Proceeds will repay the company's existing $150 million 2% senior exchangeable notes due 2020. At the same time, we affirmed our 'BB-' corporate credit rating on Cypress and 'BB' issue rating on Cypress' senior secured debt. On Nov. 6, 2017, S&P Global Ratings assigned its 'B+' issue-level rating to Cypress Semiconductor Corp.'s proposed $150 million convertible notes due 2023. The company will put the proceeds toward repayment of its existing $150 million 2% senior exchangeable notes due 2020. The in-the-money component of the existing converts will be settled in equity, resulting in limited reduction in Cypress' liquidity. We also affirmed our
