S&P rates Microsemi loan BB

Standard & Poor's said it assigned its BB issue-level rating and 2 recovery rating to Microsemi Corp.'s $726 million senior secured term loan due 2020.

The BB- corporate credit rating and stable outlook on Microsemi remain unchanged and reflect the expectation that the company's expanded product and market position through past acquisitions will support positive revenue growth and consistent profitability in the intermediate term despite near-term integration risks.

The rating also reflects Microsemi's "significant" financial risk profile and "weak" business risk profile, S&P said.

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