NXP Semiconductors (NXPI) Credit Ratings Improves Upon Freescale Merger
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NXP Semiconductors Obtains Improved Credit Ratings From S&P and Moody's
December 10, 2015 7:00 AM ESTEINDHOVEN, The Netherlands, Dec. 10, 2015 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) announced that it has received credit rating upgrades from both Standard & Poors Ratings Services (S&P) and Moodys Investors Services (Moodys) as a result of the successful merger between NXP Semiconductors (NXP) and Freescale Semiconductor (Freescale).Â
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.Â
S&P upgraded its... More