Skyworks Solutions Inc.'s Proposed Unsecured Notes To Fund Acquisition Rated 'BBB-'

SAN FRANCISCO (S&P Global Ratings) May 12, 2021--S&P Global Ratings today assigned its 'BBB-' issue-level rating to Irvine, Calif.-based radio-frequency semiconductor maker Skyworks Solutions Inc.'s proposed senior unsecured notes. This is the same as our 'BBB-' long-term issuer credit rating on the company because there are no significant elements of subordination risk in its capital structure. Skyworks intends to use the net proceeds from the notes and other debt financing, together with cash and cash equivalents, to finance the cash consideration of $2.75 billion for the acquisition of the infrastructure and automotive business of Silicon Laboratories Inc. For our full credit rating rationale on Skyworks, see our research update published April 22, 2021. General Criteria: Group Rating Methodology, July 1,

...May 12, 2021 SAN FRANCISCO (S&P Global Ratings) May 12, 2021--S&P Global Ratings today assigned its '###-' issue-level rating to Irvine, Calif.-based radio-frequency semiconductor maker Skyworks Solutions Inc.'s proposed senior unsecured notes. This is the same as our '###-' long-term issuer credit rating on the company because there are no significant elements of subordination risk in its capital structure. Skyworks intends to use the net proceeds from the notes and other debt financing, together with cash and cash equivalents, to finance the cash consideration of $2.75 billion for the acquisition of the infrastructure and automotive business of Silicon Laboratories Inc. For our full credit rating rationale on Skyworks, see our research update published April 22, 2021....

Ratings Action