Moody's rates Analog notes A3

Moody's Investors Service said it assigned an A3 rating to Analog Devices Inc.'s proposed senior unsecured notes.

The outlook is stable.

Proceeds will be used for general corporate purposes.

The A3 senior unsecured rating "reflects Analog's strong and defensible business position across its high performance analog portfolio," Moody's senior vice president Richard Lane said in a statement.

The company also benefits from broad geographic, customer and end market diversification, Moody's said.

The rating also considers the company's exposure to the volatile and cyclical semiconductor sector and the perennial challenges to win designs against strong competitors, the agency said.

Mitigating these risks are Analog's solid debt protection measures, evidenced by low leverage and good liquidity, the agency noted.

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