S&P: Cadence Design loan BBB-

S&P said it assigned a BBB- rating to Cadence Design Systems Inc.'s $350 million unsecured revolving facility.

The BBB- corporate credit rating and stable outlook on Cadence are unchanged.

The ratings are based on the company's leading position in semiconductor design software markets, increasing revenue share from customers outside the semiconductor industry and significant cash balances, S&P said.

The ratings also consider the company’s strong track record of high single-digit percentage revenue growth and limited capital spending, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.