S&P ups KLA, rates notes A-

S&P said it upgraded KLA Corp.’s ratings a notch to A- and assigned an A- rating to its planned senior unsecured notes.

“KLA Corp. has benefited from a historic increase in wafer fabrication equipment (WFE) capital spending over the past two years to nearly double revenue and EBITDA. We expect growing capital intensity at leading nodes and industry-leading technology in process control to continue to support moderated, if still above-market revenue growth over the next two years,” the agency said in a press release.

The outlook is stable.

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