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Published on 10/14/2016 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily and Prospect News Investment Grade Daily.

S&P assigns BBB- to Nvidia revolver

S&P said it assigned its BBB- issue-level rating to Nvidia Corp.'s $575 million senior unsecured revolving credit facility.

Nvidia’s corporate credit rating remains BBB- with a positive outlook.

S&P said the ratings reflect the company's success in maintaining a significant technological advantage in graphics processing unit (GPU) design and its track record of double-digit revenue growth from both core gaming end markets and adjacent applications in data center acceleration and automotive infotainment platforms.

The positive outlook reflects the agency’s expectation that Nvidia’s sustainable competitive advantages and leading positions in rapidly growing end markets will support further revenue growth and business diversification.


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