Microsemi Corporation -- Moody's says Microsemi's ratings (Ba2 CFR) not affected by acquisition of Symmetricom, higher debt increases risk to ratings

New York, October 24, 2013 -- Moody's Investors Service said Microsemi Corp.'s ("Microsemi") debt ratings -- Ba2 Corporate Family ("CFR") and Senior Secured ratings -- are not affected by the planned $310 million acquisition of Symmetricom, Inc ("Symmetricom"), a maker of atomic clock applications that can be used with Microsemi's chips. The added debt (about $200 million) and reduced cash (down about $110 million) have negative credit implications, however, as pro forma debt to EBITDA will increase by over half a turn to about 4x (after Moody's adjustments).

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