NXP Semiconductors Obtains Improved Credit Ratings From S&P and Moody's
EINDHOVEN,
Both rating agencies attributed the upgrades to the benefit of the merger, which will provide larger scale, greater product and geographic diversity, as well as meaningful cost synergies, all resulting in robust free cash flow.
S&P upgraded its long-term corporate rating for NXP B.V. to investment grade or BBB- from BB+. Additionally,S&P assigned a “Stable Outlook”, and has withdrawn its recovery rating on the company.
- Moody’s upgraded its long-term corporate rating for NXP B.V. to Ba1 from Ba2.
“We are very pleased with the rating changes both
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