S&P: Altera view to negative

Standard & Poor's said it revised the outlook on Altera Corp. to negative from stable.

The agency said it affirmed the company's A- corporate credit rating.

The outlook revision reflects an opinion that Altera's credit measures may weaken below expectations for its minimal financial risk profile as a result of the company's decision to issue debt to partially fund share repurchases over a two-year period, said S&P said.

While the agency said it does not know the size and the timing of the debt issuance, it believes this represents somewhat of a departure from the conservative financial policies that supported the previous outlook.

The company's minimal financial risk profile provides key support to the rating, S&P added.

The rating also considers an expectation that the company will sustain its satisfactory business profile over time, the agency said.

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