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S&P gives A- to Applied Materials notes
Standard & Poor’s said it assigned its A- issue-level rating (the same as the corporate credit rating on the company) to Applied Materials Inc.’s proposed senior unsecured notes.
The company intends to use a portion of the net proceeds to redeem or repay its outstanding $400 million 2.65% senior notes due June 15, 2016 and the balance for general corporate purposes.
“This transaction does not affect our A- corporate credit rating on the company. In our view, Applied Materials’ ‘minimal’ financial risk profile remains intact,” S&P said in a news release.
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