S&P ups Lattice Semiconductor

S&P said it upgraded Lattice Semiconductor Corp.’s issuer rating to BB- from B+ and its senior secured debt rating to BB from B+ with a 2 recovery rating.

“We expect steady operating performance and positive FOCF generation to support low leverage in 2020. Despite the uncertain macroeconomic environment, Lattice has continued to perform steadily in 2020 with stable revenues and EBITDA margins remaining around 30%. This has supported positive FOCF of more than $25 million in the first half of the year, which the company has largely used to repay $26.3 million of its senior secured term loan, about $17.5 million of which are voluntary prepayments,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.