Tuesday, April 29, 2008 11:43:16 AM
04.29.08, 2:37 AM ET
MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it assigned its 'BBB' corporate credit rating to California-based microchip testing equipment manufacturer KLA-Tencor Corp, with a stable outlook.
The ratings agency also assigned its 'BBB' rating to the company's proposed senior notes, which will be issued in two tranches and be used for general corporate purposes.
'Our ratings on KLA reflect the company's leading position in the semiconductor metrology and inspection equipment industry, good profitability, and moderate leverage,' S&P said.
These factors are offset partially by substantial industry cyclicality and technology risks, it added.
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