...May 5, 2020 NEW YORK (S&P Global Ratings) May 5, 2020--S&P Global Ratings today assigned its '###-' issue-level rating to San Jose, Calif.-based Broadcom Inc.'s proposed senior unsecured notes. The company will use the proceeds from these notes to repay outstanding debt. Our '###-' issuer credit rating and stable outlook on Broadcom remain unchanged. The rating reflects our expectation that the company will generate consistent EBITDA and cash flow through the COVID-19 related macroeconomic weakness due to its leading positions in connectivity infrastructure markets and the high degree of recurring revenue in its acquired enterprise software businesses. The stable outlook reflects our expectation that consistent cash flow from Broadcom's legacy semiconductor franchise and contributions from its recently acquired software assets will enable it to reduce its leverage from a peak of about 3.3x as of the end of fiscal year 2019. Although we believe Broadcom could further reduce leverage, we...
