Moody's assigns A2 to KLA notes

Moody's Investors Service said it affirmed KLA Corp.’s A2 senior unsecured rating and assigned an A2 rating to its planned senior unsecured notes.

Moody's projects semiconductor industry revenue in 2022 will increase by about 10%-15% to over $600 billion driven by progressive economic recovery worldwide and continued demand for a growing array of devices whose functionality is driven by semiconductors. The fundamental long-term growth drivers remain in place as more industries are increasingly dependent on technology, data and silicon to define their products and services,” the agency said in a press release.

The proceeds will be used to repurchase shares and for general corporate purposes.

The outlook is stable.

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