Moody’s applies A3 to Analog Devices debt

Moody's Investors Service said it assigned an A3 rating to the proposed senior unsecured debt offering by Analog Devices, Inc.

The outlook is stable.

Analog Devices plans to use the proceeds for general corporate purposes, including the repayment of the company's $375 million note due April 2016.

The A3 senior unsecured rating "reflects Analog's strong and defensible business position across its high performance analog portfolio," Moody's senior vice president Richard Lane said in a news release.

"Favorable characteristics of the high performance analog semiconductor industry support stronger and more stable operating performance when compared to non-analog and more commoditized semiconductor peers."

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