Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for LAM Research Corp. > News item |
Moody's: Lam convertibles Baa1
Moody's Investors Service said it assigned a Baa1 rating to the proposed senior unsecured convertible debt of Lam Research Corp.
The outlook is stable.
The rating reflects the highly defensible lead positions in the important etch and clean sectors of the $30 billion semiconductor equipment market, Moody's said, and track record of solid operating execution.
As a result, Lam has generated cash flow through industry cycles, which is expected to continue, the agency said.
Even with the proposed convertible debt, Moody's said it anticipates the company will keep debt at a modest level with cash as a relatively high portion of debt.
The rating is tempered by the cyclicality and volatility inherent to the broad semiconductor equipment market, the agency said, and the risks to cash flow associated with transition to new technologies.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.