Moody’s gives Baa2 to Cadence

Moody's Investors Service said it assigned a Baa2 senior unsecured issuer rating to Cadence Design Systems, Inc.

The outlook is stable.

Cadence's Baa2 senior unsecured issuer rating is supported by the company's "solid competitive position in the electronic design automation (EDA) software sector, good market growth expectations, and steady cash flow generation," Moody's senior vice president Richard Lane said in a news release.

The rating also incorporates expectations of a modestly leveraged capital structure and the maintenance of solid liquidity, the agency said.

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