S&P rates Altera notes A-

Standard & Poor's said it assigned its A- issue rating to Altera Corp.'s proposed $500 million senior unsecured notes.

The agency said it also affirmed its existing A- corporate credit rating on the company. The outlook is stable.

"The rating reflects our expectation that Altera will preserve its conservative financial policies, which we believe will enable it to maintain leverage below 1x despite industry cyclicality and aggressive competition," said S&P credit analyst Andrew Chang in a news release.

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