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Prospect News home > News index > List of issuers K > Headlines for KLA-Tencor Corp. > News item |
S&P upgrades KLA-Tencor
Standard & Poor's said it raised its corporate credit rating on KLA-Tencor Corp. to BBB+ from BBB. The outlook is stable.
At the same time, S&P raised the issue-level rating on the company's $750 million senior unsecured notes due 2018 to BBB+ from BBB.
S&P said the upgrade reflects KLA-Tencor's stable free operating cash flow generation over the past five years and S&P's belief that the company will maintain a financial policy consistent with a "modest" financial risk profile.
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