S&P affirms Broadcom

Standard & Poor's said it affirmed an A- corporate credit rating on Broadcom Corp. and the A- rating on its senior notes.

The outlook is stable.

"We expect the NetLogic acquisition to strengthen Broadcom's ability to capitalize on strong secular trends in the wireless and broadband subsectors, resulting in continued revenue and profitability growth," S&P analyst Joseph Spence said in a statement.

However, the acquisition will absorb much of the company's flexibility within the current rating over the near term, the agency noted.

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