0.31%QQQQ 43.45 
0.48%XLF 21.74 3.62%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
NEW YORK - Standard & Poor's Ratings Services said Thursday that its "BBB+" ratings and "Stable" outlook for KLA-Tencor Corp. will not be impacted by the chip manufacturing equipment maker's authorization of the repurchase of 15 million shares.
KLA said Monday that it would buy back the shares through a repurchase program that is effective for the next 15 months.
The ratings service said that though the buyback plan would necessitate a significant use of cash, S&P thinks KLA will keep adequate liquidity since it had about $1.4 billion in pro forma cash and equivalents after issuing $750 million in senior notes in late April.
The ratings service also said the company's free operating cash flows are healthy and that its financial policies are fairly conservative.
KLA shares fell 41 cents to finish the holiday-shortened session at $39.90.
The above adage is well known by precious-metals investors; in fact I used this quote in one of our monthly reports. I recall how many inquiries ...
The review was scathing. "She cannot sing very well," it said. "She is flat a go...
IN THE HEADLINES McCain caps GOP convention vowing 'change is coming' to Washing...
Professional Website Design For Corporate - Get a Free Quote Today
Partners  
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
