Fitch raises KLA

Fitch Ratings said it upgraded KLA Corp.'s long-term issuer default and senior unsecured ratings to A from A-.

“The ratings reflect KLA's financial policies within the context of expectations for continued technology and share leadership and positive wafer fab equipment (WFE) market growth. KLA has committed to maintaining EBITDA leverage below 2x but continues to post stronger leverage metrics than Fitch's positive rating sensitivities. The semiconductor supply chain should continue to drive mid-single-digit long-term WFE spending despite Fitch's expectations for softer near-term semiconductor demand,” the agency said in a press release.

The outlook is stable.

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