Moody's: Vishay unchanged

Moody's Investors Service said that Vishay Intertechnology, Inc.'s Ba3 corporate family rating and its positive outlook are not affected by its $275 million of convertible senior note issuance, which will be used to fund the company's announced stock repurchase plan.

Additionally, Moody's noted that it affirmed Vishay's SGL-1 speculative-grade liquidity rating, reflecting the company's very good liquidity position.

According to the agency, Vishay's Ba3 corporate family rating continues to reflect its good operating scale, diverse product portfolio and low financial risk, including very good liquidity and strong free cash flow generation, which partially offset the risks of high demand and price volatility endemic in the semiconductor industry, particularly in mature products.

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