S&P rates Analog notes A-

Standard & Poor's said that it assigned an A- issue rating to Analog Devices Inc.'s senior notes.

The company will use the proceeds for general corporate purposes.

The A- corporate credit rating on Analog reflects the expectation that its good market position in the analog semiconductor segment, conservative balance sheet and consistent profitability and cash flows will enable the company to maintain strong liquidity and low leverage despite a highly competitive and cyclical industry, the agency said.

The company's minimal financial profile is the key support for the rating, given its satisfactory business profile, the agency added.

The ratings on Analog incorporate the expectation that it will maintain consistent profitability, good cash flows and a debt-to-EBITDA ratio of 1 times throughout a business cycle, S&P said.

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