Fitch Upgrades and Withdraws Ratings on Freescale on Merger with NXP

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has upgraded and withdrawn the ratings for Freescale Semiconductor, Inc. (Freescale) as follows:

--Long-term Issuer Default Rating (IDR) upgraded to 'BBB-' from 'B+' and withdrawn;

--Senior secured bank revolving credit facility upgraded to 'BBB' from 'BB-/RR3' and withdrawn;

--Senior secured term loans upgraded to 'BBB' from 'BB-/RR3' and withdrawn;

--Senior secured notes upgraded to 'BBB' from 'BB-/RR3' and withdrawn.

KEY RATING DRIVERS

Fitch has withdrawn the ratings of Freescale as Freescale is undergoing a reorganization (merging with NXP Semiconductor N.V.). Accordingly, Fitch will no longer provide ratings or analytical coverage for Freescale.

KEY ASSUMPTIONS

No longer relevant as the ratings have been withdrawn.

RATING SENSITIVITIES

No longer relevant as the ratings have been withdrawn.

Additional information is available on www.fitchratings.com

Applicable Criteria

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage (pub. 17 Aug 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=869362

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=996018

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=996018

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151204005857/en/

Fitch Ratings, Inc.
Business Development
Michael Mancini
Senior Director
+1-212-908-0757
[email protected]
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Primary Analyst
Jason Pompeii
Senior Director
+1-312-368-3210
or
[email protected]
Committee Chairperson
Steven Marks
Managing Director
+1-212-908-9161
or
Media Relations
Alyssa Castelli, +1-212-908-0540
[email protected]

Source: Fitch Ratings

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