S&P rates Micron convertibles BB-

Standard & Poor's said it assigned its BB- issue-level rating to Micron Technology Inc.'s proposed senior unsecured convertible notes due 2033.

The recovery rating is 3.

S&P said the corporate credit rating on the company is BB- with a negative outlook.

The proposed notes will rank equally with all of Micron's existing and future senior unsecured debt.

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