S&P upgrades Qorvo

S&P said it raised its ratings for Qorvo Inc. and its senior unsecured notes to BBB- from BB+.

Qorvo generated high-20% year-over-year growth over the past two quarters. “S&P Global Ratings expects revenues to remain strong due to demand from 5G smartphone makers and from customers in Qorvo's infrastructure and defense products (IDP) segment,” the agency said in a press release.

The outlook is stable.

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