Fitch shifts Broadcom view to stable

Fitch Ratings said it revised the outlook for Broadcom Inc. to stable from negative and affirmed the company’s BBB- issuer rating. Fitch also affirmed the BBB- ratings on Broadcom units CA Inc. and Broadcom Technologies Inc.

“The ratings and outlook reflect Broadcom's software assets, which now account for more than one-third of consolidated revenue and continue to add stability with recurring maintenance revenue at lower growth levels but higher profit margins. Demand trends for Broadcom's semiconductor franchises are mixed with 5G- and cloud-related businesses continuing to grow organically, but offset by those serving macro-economic sensitive markets such as satellite and set-top boxes,” Fitch said in a press release.

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