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S&P raises VMWare
S&P said it raised its issuer credit rating on VMWare Inc. and issue-level ratings on its senior unsecured debt to BBB from BBB- and removed the ratings from CreditWatch, where it placed them with positive implications on May 26, 2022. The outlook is now stable.
On Nov. 22, Broadcom Inc. completed its acquisition of VMWare.
“We raised our issuer credit rating on VMWare and issue-level ratings on its senior unsecured debt to BBB to equalize them with the rating on Broadcom because we now consider VMWare to be a core entity of Broadcom. We subsequently withdrew the issuer credit rating on VMWare with the completion of the acquisition by Broadcom,” S&P said in a statement.
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