S&P revises Microsemi revolver recovery to 2

Standard & Poor's said it corrected the recovery rating on Microsemi Corp.'s $50 million revolver due 2015 by revising it to 2 from 1.

The agency said it did not revise it following a recovery report dated Oct. 4, 2011.

The recovery rating on the revolver is 2, indicating 70% to 90% expected recovery in a default.

The rating on the term loan is BB, which is one notch higher than its BB- corporate credit rating.

The BB rating and 2 recovery rating on its $810 million term loan due 2018 remain unchanged.

The outlook is stable.

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