S&P ups Lattice Semiconductor

S&P said it raised its issuer credit rating on Lattice Semiconductor Corp. to BB from BB- and affirmed the BB issue-level rating on the company's upsized senior secured revolver based on a recovery rating of 3.

The outlook is stable.

S&P said the company has steadily reduced leverage below 1x in 2022, “driven by strong revenue growth from successful product innovation, EBITDA margin improvements to above 40% from well executed strategic initiatives and product mix gains, and debt reduction.”

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