Moody’s raises Advanced Micro, debt

Moody's Investors Service said it upgraded Advanced Micro Devices, Inc.'s corporate family rating to B3, senior unsecured rating to Caa1 and speculative grade liquidity rating to SGL-1.

The outlook is stable.

Moody’s said the upgrade of the corporate family rating to B3 reflects Advanced Micro’s improved performance outlook, driven by design wins, modest market share gains and an expanded set of product offerings.

As a result, the agency expects mid-single-digit revenue growth, stable to higher gross margins, operating profitability in the second half of 2017 and positive free cash flow for the year.

Advanced Micro’s new Polaris graphics family for the mid-range high volume segment should help it compete in the growing PC gaming market against Nvidia and the company's upcoming Vega family and Zen processors should strengthen AMD's position in the high-end graphics and server markets, Moody’s added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.