Nordic Semiconductor — Capital/Financing Update 2024

Jun 17, 2024

NOD: Nordic Semiconductor ASA 'BBB-' long-term issuer rating affirmed; Outlook stable

NOD: Nordic Semiconductor ASA 'BBB-' long-term issuer rating affirmed; Outlook stable

Nordic Credit Rating (NCR) said today that it had affirmed its 'BBB-' long-term issuer rating on Nordic Semiconductor ASA. The outlook is stable. The 'N3' short-term issuer and 'BBB-' senior unsecured issue ratings were also affirmed.

The stable outlook reflects NCR’s view that demand for Nordic Semiconductor's chips is likely to recover in the broader market after a period of inventory adjustments among customers and that revenue visibility will remain in line with pre-pandemic conditions. This is likely to lead to a rebound in free operating cash flow and stabilization of the company's low financial leverage with a continued net cash position. The stable outlook also reflects the company's increased efforts to reduce inventory and the normalization of supply chains.

Full credit report available at: https://nordiccreditrating.com/

For further information, please contact: Pål Elstad, CFO Nordic Semiconductor ASA Phone: +47 991 66 293 Email: pal.elstad@nordicsemi.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Pål Elstad, CFO, on June 17, 2024 at 09:20 CEST