Fitch rates KLA notes A-

Fitch Ratings said it rated KLA Corp.’s planned senior unsecured notes A-.

“The notes are rated in line with KLA's long-term issuer default rating (IDR) of A-, which has a stable outlook,” the agency said in a press release.

KLA also started a tender offer to buy up to $500 million of its senior notes due 2024.

The company will use the proceeds to fund the tender offer. The remainder along available cash and borrowings under the revolving credit facility will be used to repurchase $3 billion of KLA's common shares in privately negotiated transactions.

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