S&P assigns Qorvo notes BBB-

S&P said it assigned its BBB- issue-level rating to Qorvo Inc.'s new senior unsecured notes due 2024.

“The BBB- issue-level rating is the same as our rating on the company's existing unsecured notes,” S&P said in a press release.

Qorvo will use the proceeds to repay all or a portion of its term loan, which had an outstanding balance of $195 million as of the quarter ended Oct. 2. The company will use any remaining proceeds for general corporate purposes.

“Our BBB- issuer credit rating and stable outlook on Qorvo are unchanged,” the agency said.

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