S&P Places Lattice Semiconductor (LSCC) Ratings on CreditWatch Developing
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S&P Global Ratings said it placed its 'B' rating on Lattice Semiconductor Corp. (Nasdaq: LSCC), as well as the 'B' rating on the company's senior secured debt, on CreditWatch with developing implications. The CreditWatch listing means we could affirm, raise, or lower the ratings following the close of the transaction.
"The CreditWatch placement follows the announcement that private equity firm Canyon Bridge has agreed to acquire Lattice Semiconductor for $1.3 billion," said S&P Global Ratings credit analyst Minesh Shilotri.
We expect the proposed transaction to go through a regulatory review process and close in early 2017.
We will monitor developments related to the transaction, and will resolve the CreditWatch listing when the transaction closes and we have additional clarity on the company's future capital structure. This is likely to occur in early 2017.
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