S&P rates Qualcomm loans A+

S&P said it assigned its A+ issue-level rating to Qualcomm Inc.'s three-year $4 billion senior unsecured delayed-draw term loan and $5 billion amended revolving credit facility, of which $4.47 billion will mature on Nov. 8, 2021 and $530 million on Feb. 18, 2020.

The ratings are on CreditWatch with negative implications.

The company will use the proceeds to partly fund the acquisition of NXP Semiconductors NV.

“We rate the term loan and the revolving facility the same as the corporate credit rating on the company,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.