S&P rates Vishay convertibles BB+

S&P said it assigned its BB+ issue-level rating and 4 recovery rating to Vishay Intertechnology Inc.'s new $600 million senior unsecured convertible notes due 2025.

The 4 recovery rating indicates an expectation for average (30%-50%; rounded estimate: 30%) recovery of principal in the event of a payment default.

All of S&P’s other ratings on Vishay remain unchanged, the agency said.

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